Answer: $7500
Explanation:
The following can be deduced from the question:
Accounts Receivable balance= $100,000
Allowance for Doubtful Accounts = $500
Net credit sales = $150,000.
Percentage-of-sales approach states that the amount of bad debt expense that is recognized by a company will be calculated as a percentage of the credit sales that are generated during the current accounting period.
Using the percentage of credit sales method, the ending balance in the "Allowance for Doubtful Accounts" will be:
= Net credit sales × percentage of credit sales uncollected in the past
= $150,000 × 5%
= $150,000 × 0.05
= $7500
<span>Earned income typically includes salaries and bonuses, wages, commissions and tips. Union strike benefits are also considered earned income, as are long-term disability benefits received prior to minimum retirement age. So yes</span>
Answer:
$1618.62
Explanation:
The formula for calculating future value :
FV = P (1 + r/m)^nm
FV = Future value
P = Present value
R = interest rate
N = number of years
M = number of compounding = 12
$1,200(1 + 0.06 / 12 )^60 = $1618.62
I hope my answer helps you
Which best explains
what a credit score represents? B) A numerical rating that expresses how likely
you are to repay your debts.
<span>Since your credit
score lets banks and lenders know how likely you are to repay your debts, you
are letting the lendors see your creditworthiness. When you receive your credit
score, your score is based on how much your debt to income ration is, how many
lines of credit you have, and how likely you are to pay the debt off. </span>
The way that the transaction is going to appear if it makes use of accrual accounting is that $350 would show up on the income statement as a sale.
<h2>What is meant by accrual accounting?</h2>
This is what is also referred to as accrual based accounting. This type of accounting is one that has the transactions and all recorded in the books of accounts in such a way that they would reflect even though the service or the goods for which the payment is being made has not been received.
Hence from the explanation that we have here, the The way that the transaction is going to appear if it makes use of accrual accounting is that $350 would show up on the income statement as a sale.
Read more on accrual accounting here: brainly.com/question/14921038
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