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
Trava [24]
3 years ago
13

WLC has outstanding accounts receivable totaling $6.5 million as of December 31 and sales on credit during the year of $24 milli

on. There is also a credit balance of $12,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year?a. $ 532,000.b. $ 520,000.c. $1,920,000.d. $ 508,000.
Business
1 answer:
laila [671]3 years ago
3 0

Answer:

$508,000

Explanation:

Outstanding Receivables as on Dec 31 = $6,500,000

    Required uncollectible receivables = 8% of $6,500,000 = $520,000

    Less Opening allowance for doubtful debts                         <u>$12,000 </u>

    Allowance to be recognized this year                                  <u>$508,000  </u>

You might be interested in
Ch.11 what are the four characteristics used to classify​ retailers?
Studentka2010 [4]
<span>There are four characteristics used to classify each retailer. These are used to satisfy each and every customer's needs. The first one is the type of merchandise they sell. Second is the level and type of customer service given. This is the type of merchandise sold at the retail store. The last characteristic is the price of the merchandise being sold at the retailer.</span>
7 0
3 years ago
Read 2 more answers
Closing a sale refers to: A. asking for a referral from a prospective customer.B. being turned down by a prospective customer.C.
ki77a [65]

Answer:

D. obtaining a commitment from the customer.

Explanation:

Closing a sale is the equivalent of making a sale.

To consider a sale done, you need to have a commitment from the customer to buy the product/service you're offering.  That usually mean receiving money or at least firming a binding contract.

None of the other options is describing a complete sale. A and C are potential leads/sales... while B if of course the opposite of closing a sale.

4 0
3 years ago
Rachel plans to set up a beautifully furnished office for her interior decorating business. She will describe it in her business
Whitepunk [10]
The answer to this question is B
5 0
3 years ago
Read 2 more answers
What is first step in developing a knowledge management system
Elza [17]
The first step is determining what knowledge is most important. the control function involves measuring performance relative to the planned objectives and standards, rewarding people for well work done, and then taking corrective action when necessary.

hope this helps :)
5 0
4 years ago
ou are the loan department supervisor for the Pacific National Bank. The following installment loan is being paid off early, and
satela [25.4K]

Answer:

$56.74

Explanation:

Base on the scenario been described in the question, we can use the following method to solve the problem

Solution Correct Response Calculate the amount financed, the finance charge, and the monthly payments for the following add-on interest loan. Purchase(Cash) Price Down Payment Amount Financed Add-onInterest Number of Payments Finance Charge $78810% $8%12 $56.74

4 0
3 years ago
Other questions:
  • Bill gore believed in keeping operational facilities small due to his focus on high quality interpersonal relationships, and as
    11·2 answers
  • Which of the following statements is CORRECT? The time to maturity does not affect the change in the value of a bond in response
    7·1 answer
  • Given a risk-free rate of return of 3.7 percent and a market risk premium of 8.8 percent, one of these stocks has an expected re
    11·1 answer
  • The County Commission of Canyon County adopted its General Fund budget for the year ending June 30, comprising estimated revenue
    12·1 answer
  • Park is always willing to give up 1 orange for 3 tangerines. (1) What is the size of MRSTO (marginal rate of substituting tanger
    10·1 answer
  • Spring is here, and Neha and her dad would like to go fishing for the weekend in Vermont. Neha could either go to the lake in to
    13·1 answer
  • What is an economic principle that describes a consumer’s desire and willingness to pay a price for a specific good of service ?
    11·2 answers
  • Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the
    6·1 answer
  • A monopolist maximizes profits by a. producing an output level where marginal revenue equals marginal cost. b. charging a price
    9·1 answer
  • For a given price level, an upward shift of the expenditures schedule corresponds to an?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!