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
Vitek1552 [10]
3 years ago
14

When the allowance method of accounting for uncollectible accounts is used, then

Business
1 answer:
Brums [2.3K]3 years ago
4 0

Answer:

Bad debt expense is recorded in the same year as the credit sale.

Explanation:

Allowance method is generally refer to one of the ways for reporting the uncollectible or bad debt expense which results from a company selling the goods on credit.

This method is used for the process or procedure of uncollectible accounts receivable that records the estimate of the bad debt expense in the same accounting year to which is belongs as the sale. This method is used for adjust the accounts receivable appears on the balance sheet of the company.

You might be interested in
During a period of severe inflation, a bond offered a nominal HPR of 83% per year. The inflation rate was 74% per year. a. What
Ierofanga [76]

Answer:

real HPR is 5.17 %

Explanation:

given data

nominal HPR = 83%

inflation rate = 74%

to find out

What was the real HPR on the bond over the year

solution

we find real interest rate r that is express as

r = \frac{R-i}{1+i}        .........................1

here R is nominal rate and i is inflation rate

so put here value

r = \frac{0.83-0.74}{1+0.74}

r = \frac{0.09}{1.74}

r = 0.05172

so real HPR is 5.17 %

3 0
3 years ago
Informative advertising :
astra-53 [7]

Answer: c. is designed to describe a product’s characteristics and is usually associated with search goods.

Explanation: Advertising is a commercial solicitation designed to sell some commodity, service or similar with the aim to inform, persuade and to remind. Informative advertising is designed to describe a product’s characteristics, is usually associated with search goods and creates awareness of brands, products, services, and ideas. Thus, it announces new products as well as educating the target audience about the various attributes and benefits of the product.

4 0
3 years ago
Read 2 more answers
Even after a foreclosed property is sold at public auction, the defaulting borrower may be able to recover the property for a ti
9966 [12]

This right is called the right of Redemption

The right of redemption enables borrowers who have fallen behind on their mortgage payments to regain their homes by paying the outstanding balance plus interest and penalties either before the foreclosure process gets underway or, in some areas, even after a foreclosure auction.

When a person takes out a mortgage to purchase a property, the house itself acts as security for the loan. In other words, if a homeowner misses a payment, they lose possession of the house. Many mortgage notes contain a clause referred to as the right of foreclosure that explains a lender's power to foreclose on a property and specifies the circumstances in which the lender may do so.

Learn more about the Redemption here brainly.com/question/13554337

#SPJ10

8 0
2 years ago
Sheridan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, ex
Margarita [4]

Answer:

C. $737,500

Explanation:

The formula to compute the ending balance of retained earning is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $659,000 + $220,000 - $141,500

= $737,500

The net income is calculated below:

= Sales revenues - expenses

$600,000 - $380,000

= $220,000

3 0
3 years ago
The spherical bubbles near the surface of a glass of water are 2.5 mm in diameter at sea level where the atmosphere exerts a pre
larisa86 [58]

Answer:

145

Explanation:

6 0
4 years ago
Other questions:
  • Mackenzie, a successful store manager, leads her employees by encouraging them and showing that she genuinely believes in them.
    6·1 answer
  • A machine that costs $20,000 today has annual operating costs of $1,500, $1,600, $1,700 and $1,800 in each of the next four year
    15·1 answer
  • True or false: keynesian economists argue that the government can fight inflation by implementing expansionary fiscal policy.
    12·1 answer
  • OFUNILS
    14·1 answer
  • Choose the correct description of variable and fixed costs. A. A variable cost is related to a particular cost object and can be
    9·1 answer
  • When opening a print shop you need to buy printers, computers, furniture, and similar items. economists call these expenditures
    15·2 answers
  • Tanner and Teresa share income and losses in a 2:1 ratio after allowing for salaries of $42,000 to Tanner and $60,000 to Teresa.
    8·1 answer
  • Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final an
    12·1 answer
  • 1.4. Explain the role of financial markets in the economy.​
    6·1 answer
  • In relation to the time value of money, what is interest?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!