Answer:
Someone owes you money
Explanation:
negative balance simply means that your card issuer owes you money,
I would say C or D. Remember, bombastic words are not required.
One example is “engagement” consider to be “business activities”
I thinks the answer is 400,000 jp I jags need more answers
Answer:
The answer is C.
Explanation:
Credit sales is $6,000
Bad debt is 3% of net credit sales which is $180($6,000 x3%)
Creating allowance for doubtful debt entry is one of the prudent method and it tells us that some customers won't pay part of what they are owing. And it is also a contra account that offset bad debt.
According to the accounting rule, debit increases asset and expenses and vice-versa while credit decreases liability, equity, income and vice versa.
So we have have:
Dr Bad debt expense $180
Cr Allowance for Doubtful Accounts $180