The journal entry when writing off an account as uncollectible under the allowance method is:
Allowance for Doubtful Debts ( Dr.) xxxxx
Accounts Receivable ( Cr.) xxxxx
The allowance technique involves putting aside a reserve for terrible debts that are expected in the future. The reserve is based on a percent of the income generated in a reporting length, possibly adjusted for the danger associated with positive clients.
The allowance technique is used to determine how an awful lot of money a commercial enterprise needs to set apart for future awful or unrecoverable customer debt. It factors in the price of the losses an organization expects from extending patron credit.
The allowance approach requires a small commercial enterprise to estimate at the cease of the 12 months how an awful lot awful debt they have got, while the direct write-off method we could owners write off horrific debt whenever they determine a patron might not pay an invoice.
Learn more about the allowance method here brainly.com/question/4636062
#SPJ4
Answer:
The individual is able to get to a lower level of utility
Explanation:
The agent's commission is $5,950
A commission agent acts as a go-between for enterprises of all sizes when dealing with suppliers. A person in this position may operate in a variety of fields, including real estate, sales, and entertainment, as well as throughout the world. Additionally, a commission agent may simultaneously serve multiple companies.
An international agent who receives payment as a percentage of the sales they bring in. The Agent strictly complies with the sale terms specified to it by the Principal while making products available to potential customers in a certain territory (often a country). The Agent's and Principal's relationship is solely business-related; there is no employment connection between them.
To learn more about agent's commission here
brainly.com/question/26453970
#SPJ4
Answer:
Lead generation.
Explanation:
Selling process can be defined as the steps which must be taken by a sales representative when selling a particular product. The selling process begins with identification of potential customers that are willing to purchase the product.
Lead generation is the process of getting customers to buy a product, It involves creating an awareness of the product. This is the initial stage of a selling process.
Lead generation begins with identifying the group of customers to sell to, marketing your products through different mediums, maintaining constant communication with the customers.
Answer:
PV = $78.46153 rounded off to $78.46
Explanation:
A perpetuity is an unlimited series of cash flows that are of constant amount and occur after equal intervals of time. As they are unlimited in number, we say that they are perpetual. A perpetual preferred stock can also be said to be in form of a perpetuity as it pays a constant dividend after equal intervals of time. To calculate the price of the preferred stock, we use the present value of perpetuity formula which is,
PV = Cash flow / r
Where,
- r is the required rate of return
PV = 5.1 / 0.065
PV = $78.46153 rounded off to $78.46
