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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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The purpose of safety stock is​ to: A. eliminate the possibility of a stockout. B. control the likelihood of a stockout due to v
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<h3>Hello there!</h3>

Your question asks what the purpose of a safety stock is.

<h3>Answer: B). control the likelihood of a stock out due to variable demand​ and/or lead time.</h3>

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Irving spent the day shopping and made the following purchases: Item Cost ($) Novel 8.75 Shirt 21.66 Lunch 9.13 Potted plant 16.
yan [13]

Answer:

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Explanation:

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