Answer:
On February 1, a customer's account balance of $2,700 was deemed to be uncollectible.
The entry to be recorded on February 1 to record the write-off assuming the company uses the allowance method is:
Debit Allowance for Doubtful Accounts $2,700; credit Accounts Receivable $2,700.
Explanation:
Using the allowance method, every bad debt entry is first reflected in the Allowance for Doubtful Accounts before it is taken to the bad debt expense account.
The entries above reduce the Accounts Receivable account by the amount of the write-off and reduces the Allowance for Doubtful Accounts by the same amount. Any recovery of written off debt is also treated in the Allowance for Doubtful Accounts and the Accounts Receivable account in revised order. This method is unlike the direct write-off method. With the direct write-off method, the Accounts Receivable is credited with the amount of the write-off and the write-off is expensed in the Bad Debts Expense account directly.
The specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to help employees achieve success at both work and home considered is -work-life effectiveness. This is further explained below.
<h3>What is organizational practices?</h3>
Generally, An organizational practice is the habitual application of knowledge inside an organization for the purpose of carrying out a certain function. This application of knowledge has developed over the course of time as a result of the history, people, interests, and activities of the organization.
In conclusion, The precise combination of corporate practices, policies, and programs, plus a mindset that actively supports efforts to assist individuals to achieve success at both work and home regarded called -work-life effectiveness.
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Answer:
C
Explanation:
Compare the prices. You can tell which item cost less per unit and is the best deal.
Answer and Explanation:
The Journal entry is shown below:-
a. Bad Debt Expense Dr, $36,800 ($40,000 – $3,200)
To Allowance for Doubtful Accounts $36,800
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
b. Bad Debt Expense Dr, $40,730 ($40,000 + $730)
To Allowance for Doubtful Accounts $40,730
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
