Answer:
The bad debts would be debited with $5,000.
Explanation:
The bad debts under the allowance method is calculated by either as a percentage of accounts receivables or as a percentage of sales.
Percentage of Sales method:
In the percentage of sales method the allowance is calculated as below:
Allowance for doubtful debts = Sales * Percentage for doubtful debts
Allowance for doubtful debts = $500,000 * 1% = $5,000
Now always remember that this amount will be used only and their is no need to include the allowance for doubtful accounts balance.
Whereas on the other hand, in the percentage of accounts receivable method the allowances are included in the amount calculated.
The entry would be:
Dr Bad Debt Expense $5000
Cr Allowance for Doubtful Debts $5000
Answer:
no
Explanation:
profit businesses have the only motive to gain profit whereas non profit businesses main motive is to provide the supply of goods and services to the general public.....without a fee
Issuing bonds to obtain long-term funds legally compels a firm to pay regular <u>interest</u> payments and repay the <u>principle</u> at the maturity date.
Answer:
B. Marketing and sales
Explanation:
Based on the information provided within the question it can be said that the studies conducted were part of the marketing and sales value chain activity. This is the department within a company that focuses on analysis of customer wants/preferences and needs, in order to hopefully increase sales with the information gathered.
I had to look for the options and here is my answer. The one that is referred here for more than 50 percent of electrocutions by workers is due to the direct contact of ENERGIZED POWER LINES. This is based on OSHA or the <span>Occupational Safety and Health Administration. </span>
