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
lara31 [8.8K]
3 years ago
13

At the beginning of​ 2018, Uptown​ Travel, Inc. has the following account​ balances: Accounts receivable $ 46,000 ​(Debit) Allow

ance for Bad Debts $ 8,000 ​(Credit) During the​ year, credit sales were $ 820,000. Cash collected on credit sales was $ 750,000​, and $ 17,000 was written off. Uptown uses the aging-of-receivables method to record bad debts expense. The amount estimated as uncollectible was $ 29,000. The amount of Bad Debts Expense for 2018 is​ ________.
Business
1 answer:
gayaneshka [121]3 years ago
7 0

Answer:

The amount of bad debt expenses for the year 2018 is $38,000

Explanation:

In the given question we have been told that the allowance for bad debts is $8,000 which the uptown travel, Inc has made and also another information that has been given in the question is that the uptown travel Inc uses the aging of account receivable method , this a method where we are calculating the amount of uncollectible  bad debt expenses.

In this question it is been given that there is $17,000 of amount that is written off and there is $29,000 of amount which is uncollectible , so we will add these amount , which will give us the total amount which is uncollectible,

 = $29,000 + $ 17,000

 = $46,000

But in the question it has been given to us that the uptown travel Inc ahs made a allowance for the bad debts, so we will subtract this amount from the total amount which is uncollectible to get the amount of bad debt expenses.

Bad debt expenses = $46,000 - $8,000

                                 = $38,000

You might be interested in
The aggregate quantity of goods and services demanded changes as the price level rises because.
Ierofanga [76]

The mixture amount of products and offerings demanded modifications because the fee degree falls because it results in a upward push in actual wealth, a fall in hobby fees.

The required details for hobby fees in given paragraph

An hobby fee is the quantity of hobby due consistent with duration, as a share of the quantity lent, deposited, or borrowed. The general hobby on an quantity lent or borrowed relies upon at the predominant sum, the hobby fee, the compounding frequency, and the period of time over which it's far lent, deposited, or borrowed. The annual hobby fee is the fee over a duration of 1 year. Other hobby fees practice over extraordinary periods, which include a month or a day, however they're usually annualized.

The hobby fee has been characterized as "an index of the preference . . . for a greenback of gift over a greenback of destiny income." The borrower wants, or needs, to have cash quicker as opposed to later, and is inclined to pay a fee—the hobby fee—for that privilege.

To know about hobby fees in given link

brainly.com/question/16134508

#SPJ4

7 0
1 year ago
Is the grouping of jobs<br> into working units usually called<br> units, groups, or divisions.
lisabon 2012 [21]

Answer:

units is the closest thing

Explanation:

it's usually called departmentalization but units is the next thing

6 0
2 years ago
Read 2 more answers
The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the beginning and end of the year, res
hoa [83]

Answer:

Hidden Valley's Asset Turnover = 1.6

Explanation:

Average Total Asset = (Total Assets at the beginning of the year + Total Assets at the end of the year)/2

Average Total Asset = (450,000+550,000)/2

Average Total Asset = 1,000,0000/2 = 500,000

Asset Turnover = Net Sales / Average Total Asset

Asset Turnover = 800,000/500,000

Asset Turnover = 8/5

Asset Turnover = 1.6

7 0
3 years ago
Read 2 more answers
What particular business conditions and/or strategy might make telling or not telling the more advantageous option?
const2013 [10]

Telling employees gain motivates personnel to do their high-quality work. after they realize there are possibilities for advancement, they will do their process to a better standard to electrify those who are looking.

4 everyday business-level strategies emerge from those choices: (1) huge cost management, (2) wide differentiation, (three) targeted cost leadership, and (four) centered differentiation. In rare cases, companies are able to provide both low costs and particular capabilities that customers discover acceptable.

Put clearly, business strategy is a clear set of plans, actions and desires that outlines how a commercial enterprise will compete in a selected market, or markets, with a product or number of products or services.

Learn more about business here: brainly.com/question/24448358

#SPJ4

8 0
2 years ago
After learning about inflation and some of its history, what would be the inflation target that is most advisable for an economy
Talja [164]

Answer:

1-2%

Explanation:

In simple words, every nation in the world have some kind of central authority that works to control and keep the inflation as low as possible. However, too low inflation can also lead to recession which brings problems way worse than inflation.

Thus, keeping in mind about all the information we have studied, it is advisable to keep inflation at 1% or 2% band, so that economy can grow moderately along with no price pressure on consumers.

8 0
2 years ago
Other questions:
  • In the market for gasoline, if the change in demand due to the start of the summer driving season is greater than the change in
    6·1 answer
  • After a hurricane in florida destroys half of the orange crop, economists predict:
    14·1 answer
  • Economists have determined that the economy goes through a cycle of
    13·2 answers
  • Equipment that had been acquired several years ago by a special revenue fund at a cost of $40,000 was sold for $15,000 cash. Acc
    14·1 answer
  • You own a franchise of rental car agencies in Florida. You recently read a report indicating that about 80 percent of all touris
    9·1 answer
  • Martin owns his own motorcycle and ATV store. He notices that many of his customers talk about golf while in his store. He quick
    12·1 answer
  • One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 6.7% annual coupon bonds at their par value of $1,000. Today,
    14·1 answer
  • Suppose the demand function​ (D) for golf clubs​ is: Q​P, where P is the price paid by consumers in dollars per club and Q is th
    12·1 answer
  • 1. Describe three different types of cash receipts that a business may record. Also identify the
    10·1 answer
  • A new york buyer is purchasing a property for $120,000. what will the seller pay in transfer tax if the rate is $4 per $1,000 of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!