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
tangare [24]
3 years ago
8

At the end of the current year, using the aging of receivable method, management estimated that $22,750 of the accounts receivab

le balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance of $445. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
Maru [420]3 years ago
5 0

Answer:

Journal entry

Explanation:

 The journal entry is as follows

Bad debt expense $22,305        ($22,750 - $445)

          To Allowance for doubtful debts $22,305

(Being the bad debt expense is recorded)    

While recording this transaction ,we debited the bad debt expense as it increases the expenses account while at the same time it reduces the asset side of the balance sheet so the allowance would be credited

You might be interested in
Veronica had been working at Zenex Industries for eight months when her boss asked to see her in his office. When she walked in,
Alika [10]

Answer:

c. her pounding heart when she heard she was being laid off

Explanation:

Since in the question it is mentioned that Veronica was working with Zenex industries since 8 months and she wants to talk for the promotion but she was laid off because of downsizing of the company so here the non-conditional response example is that her heart was pounding when she heard the news of laid off

Therefore the correct option is c.

6 0
3 years ago
Ellen used a coupon at a restaurant for a certain percent discount of the meal. What percent discount did she receive?
Furkat [3]

Answer:

The question is not clear, but it is assumed that the discount is a rate previously established on the coupon. This can be 10%, 15%, 20%, 25%, etc. For this reason no calculations are made to determine the relationship between what is requested in the question and what Ellen could actually receive as a benefit.

8 0
3 years ago
If you are interested in general management, the best career cluster for you might be
nikitadnepr [17]
<span>Businesses Management and Administration</span>
3 0
3 years ago
Read 2 more answers
One potential risk of social networking for businesses is embarrassment due to
kow [346]

One potential risk of social networking for businesses is embarrassment due to employees making innapropriate posts. Social networking allows poeple to connect with one another through an online opportunity. Due to the nature of what they are able to view and post about, they should make sure everything stays relevant to work and how they would handle themselves in a work and networking setting.

6 0
3 years ago
At year-end (December 31), Chan Company estimates its bad debts as 1.00% of its annual credit sales of $794,000. Chan records it
yarga [219]

Answer:

1. bad debt expense debit 7940

allowance for bad debt credit 7940

2. allowance for bad debt debit 397

account receivable credit 397

3. account receivable debit 397

allowance for bad credit 397

4. cash debit 397

account receivable credit 397

Explanation:

the allowance will be the 1% of 794,000

then recognize the allowance for that ammount along with the bad debt expense

total write-off an account we decrease both, the allowance and account receivable

total reinstate the Parks account we do the previous entry backwards

lastly we post like any other collection from Account Receivable

4 0
4 years ago
Other questions:
  • The total cost of 7 pears is 12.50. how much will 11 pears cost
    11·2 answers
  • What is the price paid for the use of borrowed money referred to as?
    13·2 answers
  • Just-in-time processing is a business philosophy that focuses on reducing time &amp; cost &amp; eliminating poor quality. This i
    6·1 answer
  • During a recession:
    11·1 answer
  • Compounding
    9·1 answer
  • Which of the following did management at Zappos do to reduce the level of formalization in their organization?
    14·1 answer
  • Cady Construction received a contract to construct a hospital for $2,500,000. Construction began in 2019 and ended in 2020. Cost
    13·1 answer
  • Dawn's bridal boutique is having a sale on evening dresses. The increase in consumer surplus comes from the benefit of the lower
    8·1 answer
  • Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for
    7·1 answer
  • Which term refers to a company's ability to meet its needs without sacrificing the ability of future generations to meet their n
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!