Answer:
a. $ 34,000
Explanation:
The entry when the company wrote off uncollectible accounts:
Debit Allowance for Doubtful Accounts $16,000
Credit Uncollectible accounts $16,000
At the end of 2007, Allowance for Doubtful Accounts before adjusting trial balance: $90,000-$16,000 = $74,000
The company estimates bad debts based on outstanding receivable accounts. So, the amount of Bad debts expense for 2007 should be:
$108,000 - $74,000 = $34,000
The entry will be record:
Debit Bad debts expense $34,000
Credit Allowance for Doubtful Accounts $34,000
Answer:
Post the transaction information to the ledger
Explanation:
Usually there about eight steps in the accounting process. The first two steps are:
1. Identification of transactions.
2. Recording of identified transactions in a Journal
3. Posting into the general ledger
The general ledger provides details of all accounting activities by account enabling the bookkeeper to monitor financial positions and statuses by account.
The way each instrument be changed if the fed wished to decrease the money supply is the Fed should conduct :
- Open market sales
- Raise discount rates
- Raise interest paid on reserves.
This will attract more saving from the people.
The focus of Performance Based Logistics (PBL) is to leverage best practices of both Government and Industry.--- True
Explanation:
PBL is synonymous with performance-based life cycle product support, where outcomes are acquired through performance-based arrangements that deliver Warfighter requirements and incentivize product support providers to reduce costs through innovation. These Product Support Arrangements (PSA) are contracts with industry or intragovernmental agreements.
What is the focus of performance based logistics?
Performance-Based Logistics (PBL) is the purchase of support as an integrated, affordable, performance package designed to optimize system readiness and meet performance goals for a weapon system through long-term support arrangements with clear lines of authority and responsibility.
How long are PBL contracts?
Effective PBL contracts are typically multi-year contracts (i.e., 3 to 5 years with additional option or award term years), with high confidence level for exercising options/award term years.
Learn more about performance based logistics:
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