What three spending accounts can Leslie adjust now to better match what’s in her budget (select all that apply)

Under the allowance method, a.bad debt expense is recorded when specific customer accounts are determined to be uncollectible. b

solniwko [45]

Answer:

B) the allowance account and estimates are used.

Explanation:

When a company uses the allowance method, it will record an adjusting entry for the losses it anticipates from bad credits given to customers. The bad debts expense account is debited and the allowance for doubtful accounts (contra asset) is credited. Then as time passes and the amount of bad debts is exactly determined, another adjusting entry is necessary depending whether the estimate was correct or not, or if it was under or over estimated.

6 0

3 years ago

hen entry barriers into a market are low, firms will tend to earn zero economic profit in the long run because a. profit-seeking

tamaranim1 [39]

Answer:

The correct answer is B

Explanation:

Economic profit is the difference among the revenue received from the sale of the output and the cost of all inputs used and opportunity cost.

Zero economic profit, it is the situation where the firm is earning the same if its resources were employed in the next alternative which is best.

When the entry barriers in the market are low, then the firm will have the tendency of having a zero economic profit in the period of long run, as the profit which is short run will attract the extra suppliers which will result in down in the market price of the product.

3 0

3 years ago

Which of the following is true about bonds?

nata0808 [166]

Answer:

B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.

A municipal bond can be defined as a type of bond that is typically issued by a municipality, county, local government or state in order to finance or sponsor capital expenditures for the public such as water supply, construction of roads, etc.

Hence, the primary advantage to municipal bonds is that interest income received on this type of bond is not taxed by the federal government.

8 0

3 years ago

Nancy is gathering information about different cars in order to decide which car she wants to buy. According to the elaboration

jolli1 [7]

Answer:

c. she is personally motivated to devote time and energy to the information.

Explanation:

central route is when you actively think about and weight information against what you already know; considering arguments carefully.

Nancy will be more likely to process this information through the central route if she is personally motivated to devote time and energy to the information.

8 0

3 years ago

The Model Company is to begin operations in April. It has budgeted April sales of $70,000, May sales of $74,000, June sales of $

iVinArrow [24]

Answer:

Explanation:

Computation of cash collection for July= $ 75,352

Revised Sales budgets as a result of change in policy

Cash Credit

Sales-April $ 70,000 *(100 % -7% ) = $ 65,100 $ 9,765 $ 55,335

Sales -May $ 74,000 *(100 % -7 %) = $ 68,820: $ 10.323 $ 58,497

Sales -Jun $ 80,000 *(100 % -7 %) = $ 74,400 $ 11,160 $ 63,240

Sales -Jul $ 82,000 *(100 % -7 %) = $ 76,260 $ 11,439 $ 64,821

Collections for the month of July

From July cash sales $ 11,439

From April sales : 3 % of credit sales of April $ 1,755

From May sales : 16 % of credit sales of May $ 10,118

From June sales : 80% of credit sales of June $ 51,857

Additional 1.5 % on amount collected in the second month

after sales ( $ 1,755 + $ 10,118) * 1.5 % ( $ 26 + $ 157) $ 193

Total collections for July $ 75,352

5 0

3 years ago