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hoa [83]
3 years ago
15

An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful A

ccounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a:_________.
a. debit to bad Debt expense for $3,300.
b. debit to Bad Debt Expense for $4,500.
c. credit to Allowance for Doubtful Accounts for $4,500.
d. debit to Allowance for Doubtful Accounts for $3,300.
Business
1 answer:
lyudmila [28]3 years ago
4 0

Answer:

a. debit to bad Debt expense for $3,300

Explanation:

The Journal entry is shown below:-

Bad debt expenses Dr, $3,300

       To Allowance for doubtful accounts $3,300

(Being bad debts expenses is recorded)

Therefore to record the bad debt for the period we simply debited the bad debt expenses as it increase the expenses and on the other hand we credited the allowance for doubtful accounts as decrease the assets.

So, the right answer is a. debit to bad Debt expense for $3,300 option.

Working Note:-

Bad debt expenses = Estimated uncollectible - Credit balance

= $4,500 - $1,200

= $3,300

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Answer: The gate keeper

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The gatekeeper has the ability of stopping information about a product from getting to the key decision maker in purchase.

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3 years ago
If $1,000 is deposited in a certain bank account and remains in the account along with any accumulated interest, the dollar amou
Naddika [18.5K]

Answer:

The rate is greater than 8%

Explanation:

Given

\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )

<em>Missing part of question</em>

I =210

n =2

Required

Is r > 1

We have:

\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )

Substitute values for r and I

210 = 1,000 \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )

Divide both sides by 1000

0.210 = \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )

Add 1 to both sides

1.210 = (1+\frac{r}{100} \right ))^{2}

Take square roots of both sides

\sqrt{1.210} = 1+\frac{r}{100}

1.1 = 1+\frac{r}{100}

Subtract 1 from both sides

0.1 = \frac{r}{100}

Multiply both sides by 100

r = 10

10 > 8

<em></em>

<em>Hence, the rate is greater than 8%</em>

7 0
3 years ago
(BRAINLIST!!!!!)
zloy xaker [14]

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2. DEFAULT - Tom got a student loan to pursue a nursing science degree. But he couldn't manage his money well enough, due to which he was unable to pay back his loan.


3. WORK-STUDY - Sam is pursing an undergraduate program in Economics. He works as an assistant to the financial aid officer, which helps him earn $4000 annually. This helps him pay a few educational expenses.

5 0
3 years ago
Read 2 more answers
A company issues a​ ten-year bond at par with a coupon rate of 6.4​% paid​ semi-annually. The YTM at the beginning of the third
sladkih [1.3K]

Answer:

\mathbf{current  \ price \  of \  the \ bond=  \$848.78}

Explanation:

The current price of the bond can be calculated by using the formula:

current  \ price \  of \  the \ bond= ( coupon \times  \dfrac{ (1- \dfrac{1}{(1+YTM)^{no \ of \ period }})}{YTM} + \dfrac{Face \ Value }{(1+YTM ) ^{no \ of \ period}}

current  \ price \  of \  the \ bond= ( \dfrac{0.064 \times \$1000}{2} \times  \dfrac{ (1- \dfrac{1}{(1+ \dfrac{0.091}{2})^{8 \times 2}})}{\dfrac{0.091}{2}} + \dfrac{\$1000 }{(1+\dfrac{0.091}{2} ) ^{8 \times 2}})

current  \ price \  of \  the \ bond=  \$32 \times $11.19 + \$490.70

current  \ price \  of \  the \ bond=  \$358.08+ \$490.70

\mathbf{current  \ price \  of \  the \ bond=  \$848.78}

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Allisa [31]
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