Answer:
On February 1, a customer's account balance of $2,700 was deemed to be uncollectible.
The entry to be recorded on February 1 to record the write-off assuming the company uses the allowance method is:
Debit Allowance for Doubtful Accounts $2,700; credit Accounts Receivable $2,700.
Explanation:
Using the allowance method, every bad debt entry is first reflected in the Allowance for Doubtful Accounts before it is taken to the bad debt expense account.
The entries above reduce the Accounts Receivable account by the amount of the write-off and reduces the Allowance for Doubtful Accounts by the same amount. Any recovery of written off debt is also treated in the Allowance for Doubtful Accounts and the Accounts Receivable account in revised order. This method is unlike the direct write-off method. With the direct write-off method, the Accounts Receivable is credited with the amount of the write-off and the write-off is expensed in the Bad Debts Expense account directly.
Answer:
D. $1,800 Decrease
Explanation:
book value Fair value adjustment
01 Jan 10,000 8,000 2,000
Depreciation -1000 -800 -200
31 Dec 9,000 7,200 1,800 Decrease
Answer:
6.05 years
Explanation:
Payback period is the time in which a project returns back the initial investment in the form of net cash flow. For this purpose we use the net cash flows to calculate the payback.
Payback working is attached with this answer please find it.
Answer:
Jun's pressure and influence has invalidated Mika's consent.
Explanation:
By threatening Mika with prosecution if she doesn't set a discount for the sale of her house on the grounds of her debt to her, she has influenced Jun's consent or rather coerced it and therefore Mika's consent is invalidated in the agreement. Consent is free under law if contract and should be given under undue influence, duress or any other vitiating factor that will render the contract null and void such as the example above
The policy that lowers production costs and helps domestic producers to compete with imports are <u>D. subsidies. </u>
<h3 /><h3>What are subsidies?</h3>
This is a government policy where the government pays for some of the costs of production for local firms.
This allows the local firms to then sell their goods at a lower price so that they can compete with cheaper imports.
Options for this question include:
A. tariffs
B. custom duties
C. tariff rate quotas
D. subsidies
Find out more on subsidies at brainly.com/question/6945210.
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