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Sati [7]
3 years ago
7

The balance sheet of Indigo Company at December 31, 2019, includes the following. Notes receivable $54,600 Accounts receivable 1

91,700 Less: Allowance for doubtful accounts 26,300 $220,000 Transactions in 2020 include the following. 1. Accounts receivable of $147,000 were collected including accounts of $64,400 on which 2% sales discounts were allowed. 2. $5,620 was received in payment of an account which was written off the books as worthless in 2019. 3. Customer accounts of $26,500 were written off during the year. 4. At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $26,900. This estimate is based on an analysis of aged accounts receivable.
Business
1 answer:
Alchen [17]3 years ago
8 0

Answer:

Prepare the journal entries for above accounts

Explanation:

1. Cash   Dr.147,000

   Sales Discount Dr.1,314

   A/R                                   Cr.148,314    

2. Account  Receivable     Dr.5,620

    Disallowance for Bad debts        Cr.5,620

3.  Allowance for Doubtful Accounts  Dr.26,900

    Account Receivable                        Cr.26,900

4.  Bad Debts Expense    Dr.26,900

    Allowance for Doubtful Accounts   Cr.26,900

             

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photoshop1234 [79]

Answer:

A. a clear message and positive ethos

Explanation:

Clarity in communication refers to being effectiveness in conveying the intended message. Clarity in speech is a must for any speech as it aids in better comprehension of the message by the listener.

Ethos refers to the creation of authority and command in speech. It also refers to whether the speaker is able enough to speak on a subject or is he the right person to speak on such a matter.

Through ethos, the speaker establishes his command over the subject he has chosen to speak upon.

Positive ethos would mean displaying a positive body language while speaking and maintaining calm and open to questioning and providing the required response. It refers to building an amiable rapport with listeners.

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3 years ago
Cahuilla Corporation predicts the following sales in units for the coming four months: April May June July Sales in units 300 34
AlladinOne [14]

Answer:

Production budget for May = 336 units

Explanation:

<em>The production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories.  </em>

Production = Sales volume + closing inventory - opening inventory

Closing inventory in May =40%× 300

opening inventory in May = Closing inventory in April= 40%×360

Production budget = 360 + (40%× 300) -(40%× 360)=336

Production budget for May = 336 units

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3 years ago
Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond
ivann1987 [24]

Answer:

Explanation:

The journal entry is shown below:

On September 30

Bonds payable A/c Dr $1,000,000

Loss on bond retirement A/c Dr $20,000

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For cash

= Par value of bond + Premium

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For Loss, it would be

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= $20,000

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