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pogonyaev
3 years ago
14

Jumpin Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to

$2,030,000, and management estimates 5% will be uncollectible. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $1,300. The amount of Uncollectible-Account Expense reported on the income statement will be:
Business
1 answer:
Zinaida [17]3 years ago
7 0

Answer:

$101,500

Explanation:

Net Sales    $2,030,000

Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500

The amount of uncollectible accounts to be reported in income statement shall be $101,500

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The type of action that asks how and why performance deviated is called BASIC CORRECTIVE ACTON.

Explanation:

Basic corrective action are Corrective action that looks at how and why performance deviated before correcting the source of deviation.

Basic Corrective Action - Essential restorative activity that takes a gander at how and why execution veered off before remedying the wellspring of deviation. It's not unusual for supervisors to legitimize that they don't have opportunity to discover the wellspring of an issue (fundamental restorative activity) and keep on ceaselessly "put out flames" with prompt remedial activity.

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3 years ago
The plaintiff in a product liability lawsuit has suffered $100,000 worth of damages from an automobile accident. A defect in man
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$60,000

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