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]
3 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]3 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
Between _________, it is estimated that Spanish America produced 150,000 tons of silver (including gold converted into silver we
liq [111]

Answer:

1550 - 1750

Explanation:

The primary mining centers in colonial Spanish America were Potosi in southern Bolivia, and Zacatecas and Guanajuato in northern Mexico. Measured in current dollars, silver worth tens billions of dollars was extracted and shipped to Europe during colonial times, but currently those places are extremely poor.  

8 0
3 years ago
Ben is planning a ground-breaking ceremony for the company's new headquarters in Charlotte, North Carolina. He has a limited bud
OleMash [197]

Answer and Explanation:

From the following given case or scenario, we can state that Ben in this particular case would select the best alternative  during the rational decision making process. In this particular case, Ben tends to believe that he can easily cut the other expenses in order to maintain the budget for this year.  

8 0
3 years ago
On the Border Mexican restaurants all have the same terracotta and turquoise color scheme, with posters of bullfighters and maps
ruslelena [56]

Answer:

The restaurants have a unique ambience, known in legal terms as their

Trade dress

Explanation:

Trade dress protects all elements used to promote a specific service or product. Examples of trade dress include packaging and the atmosphere or décor within a place of business. The term "trade dress" comes from a 1992 court ruling and refers to the way a product is "dressed" to go to market.

3 0
3 years ago
ABC Corporation, after many profitable years, declares a one-time special cash dividend of $10.00 per share. After the announcem
Crank

Answer:

1 ABC Jan 100 Call

Explanation:

Although the OCC does not usually adjust the strike price of listed options for regular quarterly cash dividends. This is because they are known quantity that are segmented by the market into options premium.

For special cash dividends, they are not a frequent event hence market does not recognize them. This special cash dividend is $10 per share × 100 shares = $1,000 value per contract. It therefore means that the $1,000 value per contract will be adjusted.

The new strike price will be

= 110 - 10 cash dividend

= 100. It also means that the number of shares covered by the contract does not change.

4 0
3 years ago
As a factor of production, how is capital created? A. By adding land to entrepreneurship B. By adding human labor to land C. By
Dennis_Churaev [7]

Answer:

B

Explanation:

By adding human labor to land

7 0
3 years ago
Read 2 more answers
Other questions:
  • The more illiquid something is the easier it is to turn into cash.<br><br> true or false?
    5·1 answer
  • School band members need to raise money for new uniforms. Some members want to sell energy drinks at a football game, but others
    6·2 answers
  • When countries specialize in producing certain goods and then freely exchange those goods for other goods with different countri
    8·1 answer
  • Your health club is offering a free one-year membership for the person who attends the most yoga classes in March. This results
    6·1 answer
  • Choose the multiple choice answers which, when strung together, create an accurate definition of gdp. the u.s. nominal gross dom
    7·1 answer
  • In a contract, what is consideration? A. Exchanging things of value B. Breaching the contract C. A business tort D. The minimum
    9·1 answer
  • The grocery store has bulk pecans on sale, which is great since you're planning on making 7 pecan pies for a wedding. how many p
    6·2 answers
  • Dan plans to reduce his work schedule and work only half-time for WJJJ in 2021. He has been writing songs for several years and
    10·1 answer
  • How do the global and economic activities that our world faces impact marketing activities?.
    9·1 answer
  • The purpose of business aviation is to provide safe, efficient, and convenient air transportation to support the mission and goa
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!