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
irina1246 [14]
4 years ago
13

A company has $ 235 comma 000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The

Allowance for Doubtful Accounts now has a $ 7 comma 570 credit balance. If the company estimates 6​% of credit sales will be​ uncollectible, what will be the amount of the journal entry to record estimated uncollectible​ accounts?
Business
1 answer:
Paul [167]4 years ago
3 0

Answer:

$14,100

Explanation:

The computation of the amount record estimated uncollectible​ accounts are shown below:

= Credit sales × estimated percentage

= $235,000 × 6%

= $14,100

We simply multiply the credit sales with the estimated percentage so that the accurate amount can come

The journal entry is shown below:

Bad debt expense A/c Dr  $14,100

  To Allowance for doubtful debts  $14,100

(Being the adjusting entry is recorded)

You might be interested in
What are the advantages of following a strict repayment schedule? Check all that apply.
MAXImum [283]

Answer:

The correct answer are 2, 4 and 5.

Explanation:

Repayment schedule is the schedule or the document which is in detail specifying the particular terms of the loan of  borrower, like monthly payment, interest rate, due dates. The benefits or the advantage of the strict schedule of the repayment, prevent being charged from the additional or the extra fees, prevent from increasing the rate of interest and also shows or states that the borrower is responsible for this schedule.

8 0
3 years ago
When you were 10 years old, your grandparents put $500 into an account for you paying 7 percent interest. now that you are 18 ye
scZoUnD [109]

Formula for CI = p (1+r/100)t

Substituting the given values, we get

Cl = 500 ( 1 + 7 / 100) 8

<span>Cl = 859 .09</span>

<span>The answer is 859.09</span>

8 0
3 years ago
Suppose two cities are considering tearing down their stadiums to build new ones. In one city, the old stadium cost $5 million t
timofeeve [1]

Answer:

These are the options for the question:

A. They should be more willing to tear down the $5 million stadium, because it cost less to build.

B. They should be more willing to tear down the $50 million stadium, because it cost more to build.

C. The cost to build the old stadium shouldn’t be considered.

And this is the correct answer:

A. They should be more willing to tear down the $5 million stadium, because it cost less to build.

Explanation:

City A will likely be more willing to tear down its old stadium because it costed $5 million to build. City B, on the other hand, will have to think twice because a stadium that costed $50 billion to build could have more value than it seems, or the City could simply not have enough money to build a better new stadium (something that would probably cost more than $50 billion to do).

4 0
4 years ago
Read 2 more answers
Choose and describe a business that you would expect to have highly liquid assets and share a photo of that business (or company
Slav-nsk [51]

Answer:

I have chosen Apple Inc.

Explanation:

Apple Inc is a tech giant and manufactures innovative and most differentiated telecommunication products, music products, computer products, application services, etc which is highly valued among its customers. That's the reason why Apple is one of the most highly valued company in the world with almost $137 billion cash balance. This cash balance has been increased by $20 billion in the last three years which shows its higher profitability and that its inventory is highly liquid asset because it is quickly converted into cash. Furthermore, the greater demand of product and customer loyalty has strengthen its position all because of unmatched innovation introduced in each of its product every year. The greater cash balance shows that the company has greater sales and has higher profit margin on its unmatched product.

The picture of Apple headquarter and of its logo are given below:

6 0
3 years ago
Which of the following should be incorporated into a time-management plan?
Charra [1.4K]
C. Setting time limits
5 0
4 years ago
Read 2 more answers
Other questions:
  • The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Titl
    14·1 answer
  • If you were required to estimate the average return for one category of securities for the coming​ year, history tells us that y
    12·1 answer
  • Which of the following best describes the ordered pairs listed below? (-5, -7), (0, -12), (-5, -19), (8, -20)
    11·1 answer
  • In the context of ABC inventory analysis, which of the following statements is true of class A items? a. They are best managed b
    12·1 answer
  • True or false a study with a larger sample is more likely than a smaller study to get the result that p &lt; 0.05
    12·1 answer
  • 1. Compute the throughput time. 2. Compute the manufacturing cycle efficiency (MCE) for the quarter. (Round your percentage answ
    12·1 answer
  • I will give u brianlest this is my klikbot central plz sub
    11·2 answers
  • Why does howe avoid using the term "market revolution?" What evidence does he cite to promote his avoidance? What term does he s
    14·1 answer
  • Inflation initiated by increases in wages or other resource prices is labeled? demand-push inflation. cost-push inflation. cost-
    11·1 answer
  • A colleague at work learned that your company, an industrial supply company, has been offering kickbacks to purchasing officers
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!