Answer:
$5,800
Explanation:
Finish Co. uses the allowance method to account for bad debts. At the end of 2010,
Finish Co.'s un-adjusted trial balance shows an accounts receivable balance of $30,000;
allowance for doubtful accounts balance of $200 (credit);
and sales of $600,000.
Based on history, Finish estimates that bad debts will be 1% of sales.
The entry to record estimated bad debts will include a debit to Bad Debts Expense in the amount of:_______.
Total Bad debts at year end = 1% of Sales = 0.01 x 600,000 = $6,000
Amount of Allowance for Doubtful accounts = $200
Therefore the debit to Bad Debts Expense in the amount of $6000 - $200 = $5,800
Answer:
<em>Guaranty </em>
Explanation:
A Guaranty Agreement is <em>a document outlining your part in the process. </em>
This acknowledges a borrower's duty to a creditor;
the borrower promises to provide some value to the lender in the primary agreement, such as money or goods and services.
Answer:
The order has not yet been executed which means you still own 500 share
Explanation:
The status of your order is that the order has not yet been executed which means you still own 500 share because despite that you own the 500 shares of ABC stock in which the stock has been declining in price but now sells for $30 per share in which you wanted to sell all the shares thereby placing a limit sell order at a price of $30 per share but the shares continue to decline from $30 per share to $29 per share to $18 per share, their wont be any cause for alarm because the order has not yet been executed which means that the 500 shares is still in your custody.
Answer:
s protected from defamation liability under the opinion/analysis quasi-privilege.
Explanation:
The life insurance policy in which death benefits last a lifetime but premiums are all paid after a specified time period is a limited-pay whole life policy.
