Answer:
$114,000
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.
Given that it estimates its bad debts to be 3.5% of credit sales, estimated bad debt
= 3.5% * $3,200,000
= $112,000
If the Allowance for Uncollectible Accounts has a $2,000 debit balance and the estimated allowance balance should be $112,000, allowance for doubtful debt required
= $112000 + $2000
= $114,000
To account for this,
debit bad debit expense $114,000
credit allowance for doubtful $114,000
Lenny will generate $471,250 after-tax cash.
<h3>
What is an insurance policy?</h3>
- The insurance policy, which establishes the claims that the insurer is legally obligated to pay, is a contract between the insurer and the policyholder.
- The insurer guarantees to reimburse losses brought on by risks covered by the policy language in return for an upfront payment known as the premium.
<h3>What is a cash surrender value?</h3>
- If a policyholder or the owner of an annuity contract chooses to cancel their policy before it matures or an insured event occurs, the insurance company will give them the cash surrender value as compensation.
<h3>
Solution -</h3>
Money Lenny will get = $725,000.
Subtract the tax to find the money Lenny will get.
35% of 725,000 = $253,750.
Therefore, Lenny will generate $471,250 after-tax cash.
Know more about compensation here:
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#SPJ4
They hear about the organization and its values, culture, and goals is an example of socialization.
What is socialization?
Socialization can be defined as the way of learning the values, cultures of the society.
Socialization is important as it enables us to:
- Known about the norms and values in the society.
- It as well help us to interact with people in the society etc.
Inconclusion they hear about the organization and its values, culture, and goals is an example of socialization.
Learn more about socialization here:brainly.com/question/8833172
Answer:
The correct answer is letter "E": increase in the supply of personal computers, a decrease in the price, and an increase in the quantity demanded.
Explanation:
According to the supply and demand law, if the costs of producing personal computers decrease so will their price. In front of lower personal computer prices, the quantity demanded will increase which will generate more supply of personal computers in the market.