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
jek_recluse [69]
3 years ago
5

On March 13, a company writes off a customer's account of $3,500. On June 3, the customer unexpectedly pays the $3,500 balance.

Using the allowance method, record the write-off on March 13 and the cash collection on June 3. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first
Business
1 answer:
Yuri [45]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

1. Allowance for doubtful Accounts Dr      $3,500

            To Accounts receivable         $3,500

(Being the allowance for doubtful account is recorded)

2. Accounts receivable Dr $3,500

           To Allowance for doubtful Accounts $3,500

(Being the written off amount is recorded)

3. Cash Dr $3,500

        To Account receivable $3,500

(Being the cash collection is recorded)

Only these 3 entries are required

You might be interested in
In which transaction cycle would customer sales transaction information be most likely to pass between internal and external acc
dlinn [17]
A. the revenue cycle

5 0
3 years ago
Compare the applications below: Candy Crush: Allows gamers to advance to the next level once a goal is met DuoLingo: Allows user
Murljashka [212]

Answer:

Explanation:

  • Candy Crush is a game app while Duolingo helps users learn a new language.
  • They both have different interfaces.
4 0
2 years ago
Drew buys 100 shares of Balsamic Corporation for $23 per share. Over the next year, Balsamic pays four quarterly dividends of 50
tangare [24]

Answer:

500 million

Explanation:

5 0
2 years ago
Many times, clients will shift new people into the project who have no experience with it as they move their key people to new c
bazaltina [42]

Answer:

Many times, clients will shift new people into the project who have no experience with it as they move their key people to new challenges. This issue is: One that is external and intellectual.

Explanation:

External issues do not affect an entity obviously.  The clients shifting new people into projects and moving their key people to new challenges know why they must be doing so.  It may be to encourage organizational learning.  It may be because the key people have been promoted and need to move to higher positions.

Most importantly, it is the clients as entities that we should be concerned and deal with.  Clients like other organizational entities have systems, processes, and policies that they work with to produce results.  Their internal management should remain internal and not be externalized by overtly and overzealous outsiders.

6 0
3 years ago
If consumers buy less of a commodity when their incomes rise, this commodity is .
WINSTONCH [101]
The commodity is an inferior good. 

An inferior good is one for which the quantity demanded decreases when the income of the consumer increases, or one for which the quantity demanded increases when the income of the consumer decreases. In contrast, a normal good is one for which the demand increases when the consumer's income increases.
6 0
3 years ago
Other questions:
  • Researching investments online can be valuable because:
    7·1 answer
  • If gross pay increases by $500, total employee benefits increase by $200 and total job expenses decrease by $300, then total emp
    7·1 answer
  • The _____ environment of your country affects the interest rates you pay on your mortgage and credit cards as well as those you
    12·1 answer
  • Chen Corporation, a new company, adds material at the beginning of its production process; conversion
    12·1 answer
  • Which of the following nouns is properly capitalized?
    15·2 answers
  • Several studies indicate that the use of collaborative research agreement (between several firms, research centers, suppliers, c
    11·1 answer
  • Umatilla Bank and Trust is considering giving Flint Corporation a loan. Before doing so, it decides that further discussions wit
    9·1 answer
  • Thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as
    10·1 answer
  • If the price of imports rose, caused by a change in the value
    6·1 answer
  • How do i get my grade higher.60-80 and 70-80
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!