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Bogdan [553]
3 years ago
5

All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. W

hat amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
Business
1 answer:
RideAnS [48]3 years ago
4 0

Answer:

$4,800

Explanation:

the company estimates that 0.6% of total sales will be bad credit, so to determine the amount of bad debts expenses debited at the end of the year: total sales x 0.6% = $800,000 x 0.6% = $4,800

When a company uses the percent of sales method to estimate bad debts, all we need to do is multiply the total amount of credit sales times the estimated percent. In this case, the company sells all its goods on credit, so credit sales = total sales

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What is TRUE about estate planning?
Ulleksa [173]

Answer:

B.) It helps insure your possessions are distributed appropriately.  

Explanation:

All of the other answers are false.

Hope this helps! If you have any additional questions, please don't hesitate to ask me or your teacher to be sure you master the subject. Stay safe, and please mark brainliest!   :)

7 0
3 years ago
Economists generally recognize that rent controls cause shortages in housing, yet rent controls tend to persist. Why does this o
Hunter-Best [27]

Answer:

D) All of the above are correct

Explanation:

Many people indeed do not know that price controls produce shortages, and we do not only refer to the general public, but also many politicians, who are ignorant of economic theory.

Property owners are politically unpopular because they are frequently perceived as being more priviliged and not paying their fair share. Populist politicans can use them as scapegoats to rile up support.

Many people benefit from rent controls, from owners colluding to the government, to real estate cartels, to tenants, or the government itself it it holds public housing.

3 0
3 years ago
1. What's NOT an assumption we usually make about costly products and services?
zloy xaker [14]

Answer:

B

Explanation:

I would assume the correct answer would be B. This is because when you go to a store you typically assume the higher cost item is of higher quality then the lower cost item. For example: One may buy a yeti cooler over an igloo cooler because the very high price tag makes them feel as if the cooler is just that much better then the competitor. If correct please mark brainliest.

3 0
3 years ago
Klumpro, a supplier of organic milk products, sells its products to Sweedinth, a dessert store and Klumpro's long-term customer,
Mars2501 [29]

Answer:

B) Relationship Behavior

Explanation:

Relationship Behavior is a part of customer relationship management (CRM) which guides behavior of people towards it's customers in a way so that the relationship can flourish.

<em>In this case,</em> what store owner did was a gesture of goodwill, trying to build a strong and healthy relationship with it's supplier. That will help the store itself in future.

5 0
3 years ago
A credit entry:
blagie [28]

Answer: e. Decreases asset and expense accounts, and increases liability, common stock, and revenue accounts.

Explanation:

Let's evaluate each of the options as follows:

a. Is always a decrease in an account - This is false because a credit entry increases liability, common stock and revenue accounts.

b. Is recorded on the left side of a T-account - Although in modern day accounting, the use of T-account has been relegated to the background. However, if entries are to be recorded using the T-account, all debits are posted to the left side while all credits are recorded on the right side of the account.

c. Increases asset and expense accounts, and decreases liability, common stock, and revenue accounts - It does not increase asset and expense accounts, rather it reduces them. The opposite applies to liability, common stock, and revenue accounts.

d. Is always an increase in an account - This is false.

Therefore, option e is correct because a credit entry reduces asset and expense accounts, and increases liability, common stock and revenue accounts.

3 0
3 years ago
Read 2 more answers
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