Answer:
the answer is given below;
Explanation:
Allowance for Doubtful Accounts-opening ($5,355)
Allowance for doubtful accounts-closing ($300,000*8%) $24,000
Bad Debt Expense $18,645
Bad Debt Expense Dr.$18,645
Allowance for Doubtful Accounts Cr.$18,645
Answer:
The answer is: C) $80,000
Explanation:
Marquis Company should recognize gains from both a reduction in the debt's principal and its interest.
The debt principal was $300,000 and the interests were $30,000 (10% of the principal), their total amount was $330,000. If the bank accepted $250,000 as total settlement for the debt, then the difference between the total debt and the settling payment is considered gain: $330,000 - $250,000 = $80,000
Answer:
The manager and the owner.
Explanation:
Property management agreement is a contract between the owner and the manager. And this agreement defines the duties and responsibilities that both the property owner and the property manager will maintain.
