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fredd [130]
3 years ago
11

Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtf

ul Accounts. The company’s aging of accounts receivable determined $12,000 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debit expence.
Business
1 answer:
Crank3 years ago
8 0

Answer:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

Explanation:

According to the scenario, the journal entry are given below:

Journal Entry:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

(Being the Bad debt A/c is recorded)

The computation for bad debts are given below:

 Bad debts = Uncollectible Amount - Credit balance in Allowance for doubtful A/c

Where,

Uncollectible Amount = $12,000

Credit balance in Allowance for doubtful A/c = $3,000

By putting the value we get,

= $12,000 - $3,000

= $9,000

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Negative externalities are created when
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Answer:

The correct answer is (C)

Explanation:

Negative externalities occur when an individual or firm making a choice negatively affect other parties.  A driver who recklessly drives a car on a busy highway is a negative externality because the amusement of the driver is negatively affecting other people. A negative externality arises when the benefit of a decision is less than the negative outcomes of that decision.

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Which of the following assessments of electronic retailing is most accurate? a. The line between electronic retailing and tradit
IgorC [24]

Answer:

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Explanation:

Most purchases nowadays are being processed online. The easiness to access to a wide variety of products and the methods of payments causes more people to buy online. Besides, the number of retailer stores with mobile apps is increasing so there is no need to have a computer to make the purchases online since they can be made with a phone. This scenario is fading the line that used to separate traditional retailing with online retailing.

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3 years ago
Can i return something to walmart without a receipt?
nevsk [136]

Answer:

Walmart's return policy

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Explanation:

☺

7 0
1 year ago
What is the name of the Inca tot of stock market prices that averages 30 selected industrial stocks?
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Answer:

C

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On january? 1, 2017, dodge company purchases? $90,000, 7% bonds at a price of 86.4 and a maturity date of january? 1, 2027. dodg
andreev551 [17]

We should note that the bond investment account is recorded at cost by the Bondholder or Investor.

The cost or price is calculated as:

Cost = $90,000 * 86.4%

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Therefore, the entry to record should be:

<span>debit Held-to-Maturity Investment in Bonds for $77,760 and credit Cash for $77,760</span>

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