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Paha777 [63]
4 years ago
7

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2

,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:
Business
1 answer:
Aleonysh [2.5K]4 years ago
7 0

Answer:

The following entries will be made on July 10

Explanation:

Account Receivable   Dr.$2,000

Bad debt Expense      Cr.$2,000

Bank      Dr.$2,000

Account Receivable Cr.$2,000

Firstly the writ off made on May 3, was reinstated as the amount is collected then in second entry, we recorded collection of cash from A. Hopkins.

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Answer:

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Explanation:

Based on the information given the numbers

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Constant Return to Scale occurs in a situation where the proportional increase in all the inputs is as well equal to the proportional increase in output which means the returns to scale are constant , which is why RETURNS TO SCALE help to describe all what happens to long run returns when the scale of production increases.

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4 0
3 years ago
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Answer:

The Answer is:

Set consequences for poor performance

Show appreciation

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Explanation:

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4 0
3 years ago
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Katen [24]

Answer:

false

Explanation:

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While the market for lettuce sells identical items, there are many buyers and sellers

7 0
3 years ago
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qaws [65]

Answer:

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Explanation:

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I believe the answer is either C or d
7 0
3 years ago
Read 2 more answers
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