1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Cargill, Inc. is finally earning a profit on the unique product it introduced six months ago. Cargill's advertising is both info
Anni [7]
What is your question?? :))
8 0
3 years ago
Brief Exercise 9-17 Record early retirement of bonds issued at a premium (LO9-7)
butalik [34]

Answer:

Dr Bonds payable                       $50,700

Dr premium on bonds payable     $4,265

Cr Cash                                                                                 $53,000

Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965

Explanation:

The premium yet to be amortized on the bond at retirement is the carrying  value minus face value i.e  $54,965-$50,700=$4265

The premium  on bonds payable would now be debited with $4265

The cash paid on retirement would be credited to cash account

The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.

4 0
3 years ago
Regarding to the location decision and supply chain management, a primary challenge is to address _______________ distribution.
luda_lava [24]
B. Centralized vs. decentralized
3 0
3 years ago
The market demand curve Group of answer choices is found by vertically adding the individual demand curves. slopes upward. repre
Aleonysh [2.5K]

Answer:

represents the sum of the quantities demanded by all the buyers at each price of the good.

Explanation:

The market demand curve is the total of all the individual demand curves in the market as mentioned. It depicts the quantity demanded with respect to the different prices

And in this the quantity demanded and the price of a product has an inverse relationship between each other

Therefore the last option is correct

8 0
3 years ago
Economics may best be defined as the Multiple Choice
AysviL [449]

Answer:

2. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.

Explanation:

Economics is defined as a study of how a society uses its limited resources. It deals with consumption, distribution, and production of goods and services.

Economics tries to find ways that unlimited wants can be satisfied with limited resources. Theories postulated are focused on how to optimally use scarce resources for production of goods and services, how am individual or organisation can maximise it's utility of a product.

8 0
3 years ago
Other questions:
  • Andrew, a project manager in a multinational company, accepts a very challenging project from his client as he feels that the em
    12·1 answer
  • . There is an 80% probability that Tom will be in good health during the year and incur only $200 in medical expenses, but there
    14·1 answer
  • Damian works at the Container Store. While he is placing inventory on the shelves, a customer comes up to him. The customer ment
    15·1 answer
  • In general, securities with ____ credit risk and _______ liquidity will offer higher yields. a. lower; lower b. higher; lower c.
    5·1 answer
  • Laura received a grant that will pay for 30% of her annual estimated tuition and a scholarship that will pay for her books. What
    8·2 answers
  • On January 1, ABC started the year with a $400,000 balance in Retained Earnings and a $550,000 balance in Common Stock. During t
    10·1 answer
  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
    9·1 answer
  • When Corey runs out of shampoo he buys whatever brand is on sale at his local CVS drugstore. What is his level of involvement in
    5·1 answer
  • Which solutions would be appropriate for everyone in both low financial wellness groups?
    5·1 answer
  • Recently, u. S. Dairies, struggling to increase milk sales, tried to change the way adults thought about milk. The dairies wante
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!