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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

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Bristo Corporation has sales of 2,080 units at $50 per unit. Variable expenses are 25% of the selling price. If total fixed expe
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Answer:

Degree of operating leverage = 7.8

Explanation:

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solution

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Degree of operating leverage = Sales - variable cost ÷ (sales - variable cost - fixed cost)   .......................1

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and

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Answer:

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