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LuckyWell [14K]
3 years ago
5

A company has an ending accounts receivable balance of $900,000 and estimates that uncollectible accounts will be 2% of its acco

unts receivable balance. If the Allowance for Doubtful Accounts has a credit balance of $2,000 prior to year-end adjustment. What will be the balance of the Allowance for Doubtful Accounts after year-end adjusting entries have been recorded?
Business
1 answer:
Juliette [100K]3 years ago
5 0

Answer:

$20,000

Explanation:

Allowance for uncollectible accounts will be 2% of its accounts receivable = 2% * 900,000 = $18,000

the balance of the Allowance for Doubtful Accounts after year-end = a credit balance of $2,000 + allowance for  uncollectible accounts in year of $18,000

= $20,000

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Zarrin [17]

Answer:

The answer is :

A. Resource market - income

B. Expenditure - product market.

Explanation:

A. Resource market - income

B. Expenditure - product market

The circular flow model shows how money moves through the economy in exchange for goods, services, and resources.

A.

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B.

Also in circular flow of income, firms receives expenditure from household and this type of market is called product market(which refers to a place where goods and services are bought and sold)

6 0
3 years ago
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shepuryov [24]

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8 0
1 year ago
The death benefit of a(n) _____ life insurance policy may go down because of poor investment returns.
ICE Princess25 [194]
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6 0
3 years ago
Following are transactions for Vitalo Company. Nov. 1 Accepted a $12,000, 180-day, 8% note from Kelly White in granting a time e
Fantom [35]

Answer:

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Explanation:

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6 0
3 years ago
Read 2 more answers
The only way a firm can increase its profits is to increase its sales revenue.
djverab [1.8K]
Hi there! The answer is B. False

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