1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
The theory of ____________ states that a nation should produce and sell goods to other countries that it produces most efficient
nikitadnepr [17]

comparative advantage theory is the answer

4 0
3 years ago
The user I want To report is justxk
kogti [31]
How do I report them for you
5 0
3 years ago
A company reports the following amounts at the end of the year:
Inga [223]

Answer:

33.33%

Explanation:

Given:

Sales revenue = $360,000

Cost of goods sold = $240,000

Net income = $53,000

Now,

the gross profit = Sales revenue - Cost of goods sold

or

The gross profit = $360,000  - $240,000  = $120,000

Thus,

the company's gross profit ratio = \frac{\textup{Gross Profit}}{\textup{Sales revenue}}

or

The company's gross profit ratio =  \frac{120,000}{\textup{360,000}

or

The company's gross profit ratio = 33.33%

8 0
3 years ago
Anderson Corporation has purchased a group of assets for $16,600.
Sati [7]

Answer:

C.$ 8 comma 798$8,798

Explanation:

Given,

Purchase value = $16,600

Considering the relative values

Relative value of land = $6,500

Total relative value = 6500 + 2400 + 3400

                                = $12,300

Using the relative value to allocate the purchased value of the land

Purchased cost of land = (6500/12300) × 16,600

                                       = 0.53 × 16,600

                                      = $8,798

The amount that would be debited to the Land is $8,798 Option C

4 0
3 years ago
Breaking down the answer to the question: "Have you ever purchased a ticket online for an American Airlines flight?" into subgro
never [62]

Answer:

Demographic Segmentation

Explanation:

Demographic segmentation is a technique  used to  divide a large group of potential custoners in to groups  depending on their gender, age, location, etnia, income,  etc.

In this case AA  is segmentating based on gender or location (zip Code)

Demographic segmentation is based on demographic information of the customer and it helps to target the message in order to reach the relevant audience.

7 0
3 years ago
Other questions:
  • An organizational chart of a company shows vice presidents with responsibility for key areas such as design, manufacturing, sale
    10·1 answer
  • Labor Recruiters, Inc., has been ordered to appear at a hearing before an administrative law judge of the National Labor Relatio
    14·1 answer
  • Michele manages employees at maui tours and lodging. she has noticed that one of her employees submits via the computer system t
    5·1 answer
  • Which of the following statements regarding corporate bonds is most correct? a. Debentures are riskier than subordinated debentu
    12·1 answer
  • What is the main difference between renting and leasing?
    14·1 answer
  • Jenae's study ignored the fact that only some of her coffee choices had caffeine, even though her co-workers preferred caffeinat
    6·1 answer
  • The table shows an indifference schedule for several combinations of x and y. Approximately how much of y is the consumer willin
    11·1 answer
  • A customer buys 1,000 shares of XYZZ stock in a margin account and pays the required 50% margin on settlement date. The customer
    9·1 answer
  • Natalie is a skilled theater artist. She is offered a job as a manager in a bank with an annual salary of​ $30,000, and she has
    9·1 answer
  • True or false the only reason to protect intellectual property is financial?​
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!