Answer:
a. Journal entry
b. $18,150
c. $586,850
Explanation:
a. The adjusting journal entry is as follows
Bad debt expense A/c Dr
To Allowance for doubtful debts
(Being bad debt expense is recorded)\
The computation of the bad debt expense is shown below:
= Account receivable × estimated percentage given + debit balance of allowance for uncollectible accounts
= $605,000 × 3% + $4,700
= $18,150 + $4,700
= $22,850
b. The adjusted balance in Allowance for Doubtful Accounts is $18,150
c. The cash realizable value is
= $605,0000 - $18,150
= $586,850
Answer:
The answer to the question is Binary
Answer:
Option b
Explanation:
In simple words, Most roles and obligations pertain to company boards. The committee will evaluate how it will influence its staff, clients, vendors, societies and investors in any choice it takes. Supervision and preparation are the principal function of the board members.
The Board's duties involve establishing strategic goals for the organization, providing guidance to execute them, overseeing business administration and communicating to stakeholders on their leadership. The operation of the board is subject to legislation , regulations as well as the investors at the annual assembly
On june 1, pizza company paid $100 for advertisements to be run on june 1. pizza company's entry to record this payment will include a $100 Credit to cash and debit to advertising.
In double-entry accounting, debits and credits are entries made in account ledgers to record value changes brought on by company transactions. Each transaction transfers money from credited accounts to debited accounts. A debit entry in an account reflects a transfer of value to that account, and a credit entry represents a transfer out of that account.
In order to distinguish between debits and credits, an account book's transfer amounts are typically written in different columns. Alternatively, they can be written in a single column with the suffix "Dr" for debits or just writing them plain, and "Cr" for credits or a minus sign. Despite the minus sign, positive and negative numbers are not directly correlated with debits and credits.
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