Answer: The amount of bad debt expense the company would record would be $3,470.
Explanation: Bad debt expense is an estimate of accounts receivable that is deemed as uncollectible while allowance for doubtful accounts is a balance sheet allowance account that warehouses the total balance of accounts receivable that is deemed irrecoverable.
In this scenario, Simple Co. estimated, using the aging method, that the allowance for doubtful accounts is $3,800. However, it had a credit balance of $330 in the same account. The reinstate the allowance account to $3,800, $3,470 has to be adjusted for by debiting bad debt expense and crediting allowance for doubtful account.
739,000 - 219,000 = 520,000
The net assets are assets minus liabilities, so it is $520,000 in this case.
Answer:
B
Explanation:
Opportunity cost is the valje of the next best alternative forgone when a choice is made.
Answer:
Corporate opportunity doctrine
Explanation:
The corporate opportunity doctrine is a principle that doesn't allow directors to participate as an individual in any business that can benefit the company withouth offering it first to the organization.
