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amm1812
3 years ago
9

If lynx corp. estimates its bad debt to be 1% of net credit sales, what will be the balance in the allowance for doubtful accoun

ts account after the adjustment for bad debts
Business
1 answer:
hodyreva [135]3 years ago
4 0
<span>Using the numbers as written in the corresponding question, you would subtract 20,000 from 100,000 to get your amount of net profit. The 100k and the 20k are original sales figures, with the 100 being total sales and the 20 being sales returns. After subtracting the total returns you are left with net profit of 80k. You would then multiply the 80k by 1% to get your amount for bad debts. The total would be $800 of bad debt expenses (debts)..</span>
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The two economically viable methods for desalinating seawater are reverse osmosis and __________
erik [133]

The two economically viable methods for desalinating seawater are reverse osmosis and electrodialysis.

Reverse osmosis is a water purification process that uses partially permeable membranes to separate ions, unwanted molecules, and larger particles from drinking water.

Reverse osmosis is a water purification process that uses a semi-permeable membrane (synthetic liner) to filter large particles such as unwanted molecules and contaminants, as well as sediments such as chlorine, salt, and dirt, from drinking water.

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8 0
2 years ago
Every company strives to keep _________ brand positive. her his its their
forsale [732]
<span> Every company strives to keep their brand positive.</span>
3 0
4 years ago
If the government reduces transfer payments, what happens to the budget deficit? What curve does this change in the market for l
sleet_krkn [62]

Answer:

  • The budget deficit will decrease
  • The curve it changes is the loanable funds curve
  • The loanable funds curve shifts to the right
  • The equilibrium interest rate falls

Explanation:

The reduction in transfer payments by Government will cause the budget deficit of the Government to decrease and also the the decrease in the Budget deficit will lead to the availability of loanable funds thereby causing the loanable funds curve to shift to the right.

With the availability of loanable funds the equilibrium interest rate will fall below its usual equilibrium level.and the Government can reduces transfer payments to achieve all of this.

5 0
4 years ago
Growing my business or someone else's​
yulyashka [42]

Answer:

is this question

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4 0
3 years ago
On January 1 a company purchased a five-year insurance policy for $2,300 with coverage starting immediately. If the purchase was
Vesnalui [34]

Answer:

Correct answer is D, Debit Insurance Expense, $460; credit Prepaid Insurance, $460

Explanation:

The company uses asset method of recording the purchase of insurance. Hence, at end of year end the company must recognize the expire portion of the policy and charge it against insurance expense.

$2,300 / 5 years = $460 (annual insurance expense)

Entry:

Debit Insurance expense $460

Credit Prepaid insurance $460

The balance of the prepaid insurance at the end of first year is $1,840 (2,300 - 460).

3 0
3 years ago
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