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Trava [24]
3 years ago
10

Which of the following is an example of representative money?

Business
2 answers:
Leto [7]3 years ago
5 0
"Representative money<span> is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper, and even tobacco" Google.

</span>C) A check. 

djverab [1.8K]3 years ago
3 0

C is the correct answer

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Consider Country (Z) with a GDP level of 210,000 and a growth rate of 5% in 2019 (i.e. calculated at the end of year 2019). The
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3 years ago
A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and
stellarik [79]

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a. The amount of the Allowance for Doubtful Accounts that should appear on the December 31, Balance Sheet of the current year is:

= $8,965.

b. Adjusting Journal Entry:

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Credit Allowance for Doubtful Accounts $7,365

To record bad debts expense and bring the balance of the Allowance for Doubtful Accounts to a credit balance of $8,965.

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Allowance for Doubtful Accounts $1,600 (credit balance)

Aging Schedule:

Account Age                 Balance  Estimated Uncollectible   Amount

                                                                 Percentage

Current (not yet due) $96,000                  1.00%                    $960

1—30 days past due    64,000                  2.50%                    1,600

30—60 days past due  16,000                  11.00%                   1,760

61—90 days past due    6,500                  37.00%                 2,405

Over 90 days past due 3,200                  70.00%                 2,240

Total                         $185,700                                              $8,965

Bad Debts Expense:

Allowance for Uncollectible Accounts:

Beginning balance     ($1,600)

Ending balance           $8,965

Bad Debts expense = $7,365

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Net increase in Capital Assets with amount of USD 38,000/-

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