Answer:
Debit Allowance for Doubtful Accounts $2,300; credit Accounts Receivable $2,300
Explanation:
The journal entry is shown below:
Allowance for Doubtful Accounts A/c Dr $2,300
To Accounts Receivable A/c $2,300
(Being the written-off amount is recorded)
Since we have to record this journal entry so we debited the Allowance for Doubtful Accounts A/c and credited the account receivable account so that the correct posting can be done.
Answer: $27000
Explanation:
The amount of goodwill impairment on December 31, 2020 will be:
Amount if goodwill = Net book value - Fair value
= $792,000 - $765,000.
= $27000
Therefore, the amount of Goodwill is $27000
Answer:
I believe this is C. capital
Answer:
Jenny pays Abe $300 to give the dog to his parents who live on an isolated farm
Explanation:
The answer is already stated within the question, but I'll provide the explanation.
In order to reach a solution, Jenny would have to offer Abe an amount to get rid of the dog that is more than Abe's benefit of owning the dog, which is $200.
On the other hand, since Jenny bears a cost of $400 from the bark, she would only be willing to spend as much as $400 to resolve the situation. Therefore, the acceptable range for the amount of the agreement for both parts is:
$200 < X < $400.
Since $300 is within that range. Jenny paying Abe $300 to give the dog to his parents is a possible solution.
