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mrs_skeptik [129]
3 years ago
5

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment, of $450. The bad debts are estim

ated at 3% of $650,000, the net credit sales. After the appropriate adjusting entry for bad debts, what will be the balance of the Allowance for Doubtful Accounts account?
Business
1 answer:
Eddi Din [679]3 years ago
5 0

Answer:$19500

Explanation:

The provision for doubtful debts accounts is an account that shows the amount of estimated debts that are expected to go bad at the end of the year. The estimated amount at the end of a year is debited to income account, credited to debtors account and left as a credit balance on the provision for doubtful debts accounts.

If at the end of a new year a new estimate is made which differs from the current estimated figure, then the account is adjusted to show the entire new estimate and that is why the answer to the question is 3% of $650,000 = $19,500.

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Answer:

1)

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2)

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3-a)

cost of making (14000*22) = 308000

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3-b)

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b. the more wealth she has, the less utility she gets from an additional dollar of wealth.

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Explanation:

Private markets fail to provide the optimal amount of some good such as public firework displays because private companies will have difficulty getting anybody to pay for them.

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