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DIA [1.3K]
3 years ago
13

Which of the Following is not a Source of Income?

Business
1 answer:
Gre4nikov [31]3 years ago
4 0
<span>Which of the following is not a source of income? Your monthly student loan payment. Income is money that is received, normally on a regular basis, for work or from investments. The other options are all sources of income coming into your pocket whereas the student loan payment is money you are paying out. </span>
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How did innovations in marketing and sales encourage conspicuous consumerism in the united states?
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Crimson Inc. recorded credit sales of $779,000, of which $560,000 is not yet due, $120,000 is past due for up to 180 days, and $
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Answer: $47,200

Explanation:

Accounts receivable not yet due = $560,000

Bad Debts for accounts receivable not yet due:

= $560,000 × 0.01

= $5,600.

Accounts receivable due for up-to 180 days = $120,000

Bad Debts for accounts receivable due for up-to 180 days:

= $120,000 × 0.16

= $19,200.

Accounts receivable due for more than 180 days = $99,000

Bad Debts for accounts receivable due for more than 180 days:

= $99,000 × 0.20

= $19,800

Ending balance of Allowance account:

= Debit Balance of allowance account + $5,600 + $19,200 + $19,800

= $2,600 + $5,600 + $19,200 + $19,800

= $47,200

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