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AlekseyPX
3 years ago
6

During its first year of operations, Ivanhoe Company had credit sales of $2,781,600, of which $368,300 remained uncollected at y

ear-end. The credit manager estimates that $19,340 of these receivables will become uncollectible.
Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.)
Account Titles and Explanation | Debit | Credit
Business
1 answer:
Sergeeva-Olga [200]3 years ago
7 0

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $19,340

      To Allowance for doubtful debts $19,340

(Being estimated uncollectible amount is recorded)

For recording this journal entry, we debited the bad debt expense account and credited the  Allowance for doubtful debts so that the amount is correctly recorded in the correct item.

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An annuity Question 6 options:
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Answer:

is a level stream of equal payments through time.

true. The payments will  remain at the same levle for the entire period of the annuity until maturity.

Explanation:

is a debt instrument that pays no interest.

FALSE the annuity does provide interest  for each period when is prepared.

Has no value.  

FALSE the annuity can be saled in the secondary market pretty much anitime.

is a stream of payments that varies with current market interest.

FALSE the payment will be the same regardless of the interest rate.

5 0
2 years ago
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The form of Foreign direct investment used to acquire the existing machine parts manufacturer in Mexico, Robertson Corp based in Ohio is called a greenfield investment.

<h3>What is a greenfield investment?</h3>

A greenfield investment refers to a foreign portfolio investment whereby a company buys the stocks or bonds of an existing company.

In conclusion, the acquisition of Robertson Corp in other to establish new operations in a northern Mexico is called a greenfield investment.

Read more about greenfield investment

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5 0
1 year ago
A blue-collar worker is someone in a professional or clerical job who usually earns a salary.
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Yes that is correct
3 0
3 years ago
Your uncle has $500,000 and wants to retire. He expects to live for another 30 years and to earn 6.5% on his invested funds. How
Andrei [34K]

Answer:

$38, 288.718

Explanation:

The amount to be withdrawn at the end of each year, for  30 years

The amount of $500,000 represents the present value while yearly withdraws the annuities.

We use a revised formula for calculating annuities.

Applicable formula is

P   = PV × r/( 1 − (1+r)−n

P = annual withdrawals

PV  = $500,000

r = 6.5%

n 30

P = 500,000 x( 0.065/ ( 1- (1 + 0.065) -30)}

p = 500,000 x (0.065/ (1-1+.065)-30)

p= 500,000 x (0.065 / 1-0.1511860661)

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3 0
3 years ago
What are Costco business perks?
borishaifa [10]

Answer:

There are several perks or troubles that Costco business faces.

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The first of these perks is the intense competition from other large retailers like Walmart, Target, or Best Buy. While Costco does have a niche: it tends to sell higher quality poducts for a slightly higher price, the competition is nevertheless stiff because that niche does not apply for all product lines that are sold.

The second perk is also competition, from online retailers, especially Amazon, which is larger than any traditional retailer, but also from a myriad of smaller retailers that emerge constantly in the online market, since the internet provides very few barriers to entry for new competitors.

Finally, the third peak is consumer preferences, and that is because consumers are constantly changing their tastes and preferences, especially in developed countries like the U.S. This means that Costco has to constantly adapt to new product lines, and discard other lines.

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