Answer:
Allowance for uncollectible accounts
Explanation:
This account is a contra asset account which says that the account receivable amount is not collected in near future
It is shown in the asset side of the balance sheet
Assets side
Current Assets
Accounts receivable XXXXX
Less: Allowance for doubtful debts (XXXXX)
Net accounts receivable XXXXX
It is an estimated amount which is not to be paid by the customer in respect to goods delivered to them
The journal entry would be
Bad debt expense A/c Dr XXXXX
To Allowance for uncollectible accounts A/c XXXXX
(Being the uncollected amount is recorded)
Answer:
$4,550
Explanation:
First, we need to calculate the product cost per unit
Product cost per unit = Total production costs / Units produced
= ($15,085 + $10,200 + $9,200) / 6,050 units
= $5.7 per unit
Cost of goods sold = $5.7 × 3,700 units
= $21,090
Net income = Sales - Cost of goods sold - Operating expenses
= ($8.2 × 3,700) - $21,090 - $4,700
= $30,340 - $21,090 - $4,700
= $4,550
Answer:
The correct answer is option A.
Explanation:
In case the consumers have a pessimistic tendency towards the future, they would expect the economy to face a downturn. They will, as a result, save their income and wealth for the future.
This would cause a decline in consumer spending and the aggregate demand curve will move down to the left.
An increase in consumer confidence, on the other hand, would cause consumer spending and aggregate demand to increase.
Answer:
Total FV= $678.615.02
Explanation:
<u>First, we need to calculate the value of the annuity at the end of the last payment:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {2,000*[(1.06^30) - 1]} / 0.06
FV= $158,116.37
<u>Now, the total future value after 25 years:</u>
FV= PV*(1 + i)^n
FV= 158,116.37*(1.06^25)
FV= $678.615.02
Answer:
Treaty of Versailles
Explanation:
The terms which caused the most resentment in Germany were the loss of territory, the war guilt placed solely on Germany, the deliberate effacement of the German military and the demands of reparations.
Answered by NONE other than the ONE & ONLY #QUEEN herself aka #DRIPPQUEENMO!!!
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