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Alexus [3.1K]
3 years ago
11

When an account previously written off is later collected, two journal entries are required. The first journal entry is to _____

the account, and the second journal entry is to record _____ of payment. receipt, reinstate write-off, reinstate reinstate, receipt collect, reinstat
Business
1 answer:
Crazy boy [7]3 years ago
6 0

Answer:

reinstate, receipt

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.

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For the past six years, the price of Slippery Rock stock has been increasing at a rate of 8.21 percent a year. Currently, the st
Licemer1 [7]

Answer:

3.44 percent

Explanation:

Required return = Dividend yield + growth rate

Dividend yield = Required return -  growth rate

                        = 11.65% - 8.21%  

                        = 3.44%

Therefore, The dividend yield is 3.44%

7 0
4 years ago
For the year ended December BL 2017, Lopez Company has implemented an employee bonus program based on Lopez’snet income, which e
amid [387]

Answer: Net income Dr $14,5611

Bonus payable CR 14,5611

Narration. Bonus expenses payable to staff

Employee Bonus account Dr 14,5611

Bank/Cash CR. 14.5611

Narration. Payment of employees bonus for previous year.

3 0
3 years ago
True or false members of the texas house of representatives are limited to being elected to three consecutive terms in office.
Blababa [14]
The answer to this question is False.

Texas House of Representatives consists of 150 members who are elected by the state and they have a 2 years term. The members of the Texas House of Representatives meet at the House of Representatives chamber of the Texas State Capitol and there is no term limit for being a member of this house.
5 0
4 years ago
About 6 out of 10 people entering a community college need to take a refresher mathematics course. if there are 850 enteringâ st
musickatia [10]

Answer:510 students

Explanation: given that total student is 850

And Of every 10 student 6 will have to sit for a refresher math course

Hence the number that will need a refresher math course will be (850/10)*6= 510

Or better still to better understand this let's use the crossing multiplication method

of 10 student 6must do a refresher math then

Of 850 students x must do a refresher math

Cross multiplying we have

X=(850*6)/10=510 students

5 0
3 years ago
As a general rule, the underground economy in a country will be bigger when
Vlada [557]
As a general rule, the underground economy in a country will be bigger when the red tape is oppressive. 

Oppressive means to have hardship or constraint on a specific group.
The Red Tape meaning is to have excessive rules and regulations in businesses.
3 0
3 years ago
Read 2 more answers
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