1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dennis_Churaev [7]
2 years ago
8

Using the income statement method for accounting for uncollectible accounts, a company estimates that 2.5% of credit sales will

eventually become uncollectible. If credit sales during the year are $400,000 and accounts receivable at the end of the year are $80,000, the adjustment for estimated uncollectible accounts will require
a: Credit to Accounts Receivable for $2,000.
b. Debit to Bad Debt Expense for $10,000.
c. Debit to Allowance for Uncollectible Accounts for $10,000.
d. Credit to Bad Debt Expense for $8,000.
Business
1 answer:
Digiron [165]2 years ago
7 0

Answer:

the adjustment for estimated uncollectible accounts will require

b. Debit to Bad Debt Expense for $10,000.

Explanation:

There are two primary methods for estimating bad-debt expense. The first is an income-statement approach that measures bad debt as a percentage of sales.

Accout receivable at the end_ 80000

Credit sales_______________400000

 

Estimate________________ 2,50%

Debit bas debt expense______10000

You might be interested in
If you want to become a firefighter what are some steps you need to take to get there?
bearhunter [10]

Answer:

<h2>All the best :)</h2>

Explanation:

1: Make Sure You're Fit to be a Firefighter.

2: Meet the Requirements & Take the Tests.

3: Prepare for a Firefighting Career: Education Options.

4: Become Trained as an EMT.

5: Receive Firefighter Training at a Fire Academy.

6: Apply to Your Firefighting Dream Jobs.

3 0
2 years ago
True or False. Emulsifying agents are sometimes added to oils for production of cutting fluids, which are to be mixed with water
victus00 [196]

false

hope this helps :)


8 0
2 years ago
Define ethics, and describe the role that it plays in discretionary decision making. Give an example.
Lerok [7]

Explanation:

Ethics can be defined as the study of the behaviors that guide human behavior, that is, society is developed through a set of moral behaviors that define its values ​​and its conception of which human behaviors and attitudes are positive or negative. Ethics then emerges as the standardization of these behaviors and moral values, it is a code of conduct for positive actions by man in society in all areas of life.

In discretionary decisions, in which there is a possibility of interpretation by the legislators, ethics appears as a normative instrument for the conduct of decisions, being a guide for the legislator to decide for what will have greater ethical value and benefits for society.

6 0
3 years ago
Which element of the marketing mix is most relevant to the activity "creating value"? select one:
defon
The answer is "price".

The marketing mix alludes to the arrangement of activities, or strategies, that an organization uses to advance its image or item in the market.There are 4 p's included in the marketing mix, that are; promotion (communicating value), product (creating value), price (capturing value), and place (delivering value).
7 0
3 years ago
On the basis of this information, what were total maintenance costs when the company experienced 23,000 machine hours of activit
spayn [35]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total cost for each activity level:</u>

High activity level= 27,000*27.3= $737,100

Low activity level= 23,000*34.3= $788,900

<u>Now, using the high-low method, we can determine the variable and fixed costs:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (788,900 - 737,100) / (27,000 - 23,000)

Variable cost per unit= $12.95 per machine-hour

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 788,900 - (12.95*27,000)

Fixed costs= $439,250

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 737,100 - (12.95*23,000)

Fixed costs= $439,250

<u>Finally, for 25,000 hours:</u>

Total cost= 439,250 + 12.95*2,5000

Total cost= $763,000

8 0
3 years ago
Other questions:
  • Elena works in the audit department of a practice as an audit administrator. She assists the audit teams by recording and proces
    6·1 answer
  • The process of setting aside money and putting it to work by having it earn interest or dividends or gain value in the equities
    14·1 answer
  • What are the sources of income of the government?
    7·1 answer
  • Sarah's optimism is both a contributor to and a product of her successful career accomplishments. This best illustrates self-ser
    15·1 answer
  • Total economic surplus is represented by: question 6 options: the area below the demand curve and above the market equilibrium p
    5·1 answer
  • Customer: An entity that describes a customer. An instance occurs for unique customers only using name, date of birth, and login
    15·1 answer
  • Which task is most suitable for creating an algorithm?
    14·1 answer
  • Employers often decide if they want to meet you based on your… so it is very important to highlight your strengths.
    13·2 answers
  • 10. A person who selects, purchases, uses, or disposes of goods or services is
    12·1 answer
  • The __________ system is a free online service that allows employers to check the legal status of their employees.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!