The journal entry when writing off an account as uncollectible under the allowance method is:
Allowance for Doubtful Debts ( Dr.) xxxxx
Accounts Receivable ( Cr.) xxxxx
The allowance technique involves putting aside a reserve for terrible debts that are expected in the future. The reserve is based on a percent of the income generated in a reporting length, possibly adjusted for the danger associated with positive clients.
The allowance technique is used to determine how an awful lot of money a commercial enterprise needs to set apart for future awful or unrecoverable customer debt. It factors in the price of the losses an organization expects from extending patron credit.
The allowance approach requires a small commercial enterprise to estimate at the cease of the 12 months how an awful lot awful debt they have got, while the direct write-off method we could owners write off horrific debt whenever they determine a patron might not pay an invoice.
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Answer:
D) increase; decrease
Explanation:
in order to appreciate the currency by $0.10, the interest rates need to be increased. This will encourage people to save more and thus increase the demand for gizmo that will increase the exchange rate.
This increased interest rate will also decrease the capital outflow out of the country as more people will be willing to take advantage of higher interest on savings in the country than investing outside of the country to leverage opportunities. Thus option D is the right choice.
Hope that helps.
I think that it is A. Please Mark Brainliest!!!
Bondholders regularly receive interest income at a preset interest rate, or coupon rate, for a specified period of time. This is the bond’s maturity period.<span> Holders can also sell the bonds in the bond market at their current market price.
So the Answer is BONDS
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Answer:
The insurance expense on the annual income statement for the year ended December 31, 2019 will be D. $337.50
Explanation:
The company paid the $1,350 premium on a three-year insurance policy.
The insurance expense per year = $1,350/3 = $450
From April 1, 2019 to December 31, 2019, the company had bought the insurance for 9 months.
The insurance expense on the annual income statement for the year ended December 31, 2019 = $450/12x9 = $337.5
