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stellarik [79]
3 years ago
13

Bellows Company uses the allowance method to account for uncollectible accounts. After making a concerted effort, Bellows’ manag

ement determined that it will not be able to collect the $1,200 owed to it by its customer Acme Inc. Prepare the appropriate journal entry to record the receivable write-off.
Business
1 answer:
MatroZZZ [7]3 years ago
7 0

Answer:

Db Allowance for Doubtful Accounts_1200

Cr to Accounts Receivable_____________1200

Explanation:

When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:

A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)

A credit to Accounts Receivable (to remove the amount that will not be collected)

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The number of t-shirts that one can assume are sold at a price of $7 will be 220

<h3>What is price?</h3>

It should be noted that price is the sum of money that one party pays or receives in exchange for another's goods or services. The cost of production may go by another name in some circumstances. If a product is classified as a "good" in a business transaction, its price is most likely to be referred to as such.

In this case, it should be noted that the higher the price of a particular good, there'll be a reduction in the quantity that will be demanded.

Therefore, the most likely value will be $220. In conclusion, the correct option is A.

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A study finds that at a price of $10, 100 t-shirts are sold. At a price of $5, 300 t-shirts are sold. How many t-shirts can you assume are sold at $7?

A. 220

B. 200

C. 180

D. 160

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The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrict
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Answer:

higher in the steel market, lower in the rice market, and unchanged in the TV market

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