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alexdok [17]
3 years ago
14

During the​ year, Sheldon Company had net credit sales of $ 47 comma 000. At the end of the​ year, before adjusting​ entries, th

e balance in Accounts Receivable was $ 11 comma 500 ​(debit) and the balance in Allowance for Bad Debts was $ 670 ​(credit). If the company uses an income statement approach to estimate bad debts at 4​%, what is the ending balance in the Allowance for Bad Debts​ account?
Business
1 answer:
Maru [420]3 years ago
4 0

Answer:

The balance of allowance for doubtful accounts is $ 1,880

Explanation:

Computation of balance in Allowance for Bad Debts

Total credit sales                                             $ 47 comma 000

Estimated bad debts as a % of sales                     4 %

Balance of Allowance for Doubtful accounts      $ 1,880

The balance is based on a % to credit sales basis. The bad debts expense for the year considers the balance in the allowance for doubtful accounts and the accounting entry is an adjustment amount.

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$10

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3 years ago
Does this​ "stiff competition" mean that the demand curve for​ McDonald's Chicken McNuggets is​ horizontal? Briefly explain.
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Answer: I found the complete question on Google:

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3 years ago
"Which of the following is a support activity in a firm's value chain? A) Inbound logistics B) Operations C) Sales and marketing
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Explanation:

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4 0
3 years ago
The proactive prevention technique, ________, occurs when the marketing or public relations department suggests that something r
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The proactive prevention technique enhancements occur when the marketing or public relations department suggests that something relatively small is a bigger deal.

The American Public Relations Association defines public relations as "a strategic communication process that builds mutually beneficial relationships between an organization and its public." Basically, a PR specialist manages the public image and reputation of the organization.

Public relations is a unique management function that helps establish and maintain the interrelationships of communication, understanding, acceptance, and cooperation between an organization and the general public.

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1 year ago
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