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Klio2033 [76]
3 years ago
5

ABC company uses the allowance method to account for uncollectible accounts receivable. At the beginning of the year, the allowa

nce for bad debts account had a credit balance of $1,000. During the year, ABC Co, wrote off $2,100 in bad debts, and recorded bad debt expense of $2,700. What is the year end balance in the allowance account?
Business
1 answer:
arsen [322]3 years ago
6 0

Answer:

Balance in the Allowance Account : $1600

Please see details below:

Explanation:

When the company determined the bad debt balance, the company made the next entry to the accounting system.

Debit - Bad Debts Expense $1000  

Credit - Allowance for Doubtful Accounts  $1000

When the company write-off some debts it makes the next entry.

Debit - Allowance for Doubtful Debts $2.100

Credit - Accounts Receivable  $2.100

When the company recorded bad debt expenses:

Debit - Bad Debts Expense $2700  

Credit - Allowance for Doubtful Accounts  $2700

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Cost of goods manufactured for Branson Books for the year was $860,000. Beginning work-in-process inventory was $40,000. Ending
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Answer:

Cost of goods sold = $270,000

Explanation:

Given:

Cost of goods manufactured = $860,000

Beginning work-in-process = $40,000

Ending work-in-process = $60,000

Beginning finished goods = $400,000

Ending finished goods inventory = $990,000

Computation:

Cost of goods sold = Cost of goods manufactured + Beginning finished goods - Ending finished goods inventory

Cost of goods sold = $860,000 + $400,000 - $990,000

Cost of goods sold = $270,000

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PLEASE HELP!!! ASAP!!! Federal law requires that employers with more than 20 employees provide an employee who has quit or been
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Answer:

18 months

Explanation:

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almond37 [142]

Answer:

a. APPLICATION

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b. APPLICATION

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c. DOWNSIDE

The difficulty in getting A.I. to act in a certain way is a downside because the A.I. can give undesirable and irrelevant responses.

d. APPLICATION

If A.I. can aid humans in decision making so that decisions are better then this is an application.

e. DOWNSIDE

Common sense is very important in certain scenarios and is A.I. is devoid of this then it will take longer to perform in scenarios where common sense was needed.

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A potential for A.I. to be used in nefarious and malicious ways is most definitely a downside.

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8 0
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hram777 [196]

Answer:

Both single column cash book and double column cash book are similar because they both record cash payments

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A cash book is a book or journal used to record all business transactions within a particular period like receipts, disbursements, bank deposits and bank withdrawals. They are different cash books namely: single column cash book, double column cash book and triple column cash book.

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