Jeff’s hot dog cart will have less customers and he will get less sales
Solution :
Account Estimated Estimated
receivable loss% bad debts
Current 250,000 0.5 1250
1-30 days of past due 90,000 1.0 900
31-60 days of past due 20,000 2.0 400
61-120 days of past due 11,000 5.0 550
121-180 days of past due 6,000 10.0 600
Over 180 days of past due 4,000 25.0 1000
Total account receivable 381,000 4700
a). The amount for the bad debts expense is = 4700 - (4350 - 3830)
= 4180
b). Balance in the accounts receivable
Accounts receivable = 381,000
Less : allowance for bad debts = - 4180
Net realizable value of the accounts receivable = 376,820
c). Bad debts expense
a). 4180
Balance: 4180
The allowance for un-collectible account
Beg. Bal : 4350
write off : 3830
a). 4180
Balance 4700
Answer:
Journal Entries
1) Debit Salaries Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount
Explanation:
The Question is incomplete but i will do the typical journal entries to the transactions without figures.
1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667
4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.
Answer:
The answer is below
Explanation:
A covalent bond is a type of chemical bond that occurs as a result of the sharing of electron pairs between atoms. Covalent bonds are usually formed between non metallic atoms with similar electronegativity. St room temperature, covalent bond exist as either a liquid or a gas. Example of covalent bonds are ozone (O3), water (H2O) etc.
Ozone is said to be covalent bonded because their is a sharing of electrons among the covalent atoms.
According to the Keynesian approach an increase in the money supply increases real GDP by lowering interest rates which increases investment.
The Keynesian theory implied that during a recession inflationary pressures are low, but when the level of output is at or even pushing beyond potential gross domestic product, or GDP, the economy is at greater risk for inflation.
Keynesians do believe in an indirect link between the money supply and real GDP. They believe that expansionary monetary policy increases the supply of loanable funds available through the banking system, causing interest rates to fall.
Learn more about Keynesian here
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