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Dafna1 [17]
2 years ago
11

The account allowance for uncollectible accounts is classified as a(n contra account to uncollectible accounts expense. expense.

liability. contra account to accounts receivable.
Business
2 answers:
kykrilka [37]2 years ago
8 0

<u>Answer:</u>

The account allowance for uncollectible accounts is classified as a contra account to accounts receivable.

<u>Explanation:</u>

  • It is a contra asset account. It is the allowance for bad debt reserve or doubtful actions.
  • Contra accounts are reported on the financial statement same as that of the associated account, appearing directly below the associated account with a 3^{rd} line for the net amount.
  • They are useful in preserving the historical value in main account while denoting a decrease in a separate contra account that sums to the current book value.
GrogVix [38]2 years ago
5 0
Contra account to accounts receivable
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The Donaldson Furniture Company produces three types of rocking​ chairs: the​ children's model, the standard​ model, and the exe
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Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

We assume that

X = No. of children

Y  = Standard type

Z = Executive type

So,

5x + 4y + 7z = 185.........(1)

3x + 2y + 5z = 115.........(2)

2x + 2y + 4z = 94

x + y + 2z = 47.........(3)

Equation (2) multiply by 2

6x + 4y + 10z = 230

From equation (1) to (2)

5x + 4y + 7z = 185

6x + 4y + 10z = 230

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x + 3z = 45.......(4)

Equation (3) multiply by 4

4x + 4y + 8z = 188

From equation (1) to (3)

5x + 4y + 7z = 185

4x + 4y + 8z = 188

x + 0 - z = -3

- x + z = 3……(5)

From equation (5) to (4)

x + 3z = 45

-x + z = 3

4z = 48

Executive type = Z = 48 ÷ 4 = 12

Z = 12 in equation (5)

-x + 12 = 3

x = 9 (children type)

x=9, z=12 in equation 1

5x + 4y + 7z = 185

5 × 9 + 4 × y + 7 × 12=185

45 + 4 × y + 84 = 185

4y = 56 ÷ 4

Y= 14(Standard type)

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2 years ago
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