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Furkat [3]
3 years ago
9

A company uses the percent of sales method to determine its bad debts expense. Atthe end of the current year, the company's unad

justed trial balance reported thefollowing selected amounts:Accounts receivable$ 362,000 debit Allowance for uncollectible accounts570 credit Net sales807,000 credit All sales are made on credit. Based on past experience, the company estimates 0.3% ofcredit sales to be uncollectible. What adjusting entry should the company make at theend of the current year to record its estimated bad debts expense?
Business
1 answer:
nevsk [136]3 years ago
8 0

Answer:

Explanation:

The journal entries are shown below;

Bad debt expense A/c Dr   $2,421

  To Allowance for doubtful debts  A/c  $2,421

(Being bad debt expense is recorded)

The computation of the bad debt expense is given below

= Net sales × estimated percentage given

= $807,000 × 0.3%

= $2,421

To determine the estimated bad debt expenses we debited the bad debt expense account and credited the allowance for doubtful debts

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Retail outlets can be classified by the type of merchandise line; the number of different product lines is known as __________,
ELEN [110]

Answer:

  1. width
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In retailing, product line width refers to the variety of product lines that a retail store sells, it is also referred to as product line breadth. While product line depth refers to the number of items that the retail store sells for every product line available.

7 0
3 years ago
What is the name for the journey that brought most enslaved africans to the colonies? slave auction indentured service internati
Ivenika [448]

Africans were successively delivered to the regions depicted in blue, in what became called the "Middle Passage".

The "middle passage," which brought the slaves from geographical region to the West Indies, might take three weeks. The Transatlantic (Triangular) Trade involved many continents, plenty of cash, some cargo and sugar, and lots of African slaves.

Historians estimate that about a million enslaved people were sold and moved round the country between 1808 and therefore the abolition of slavery in 1865. This internal movement of enslaved people is termed the Second Middle Passage.

The first slave traffic voyage from the American colonies sailed out of Massachusetts. The ship Desire left Salem in 1637, carrying Native American captives from the Pequot War to be sold as slaves within the Caribbean. This refers to the voyage of slaves from Africa, who were forced over to land.

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6 0
2 years ago
Why should your business use Performance Planner?
klasskru [66]

Answer:

The answer is C.It makes recommendations that are validated using machine learning.

Explanation:

A performance planner is a tool used by Google Ads to devise plans in relation to how a business spends on advertising and how changes on advertisement campaigns will affect key metrics and the general performance. It is mostly used as a forecasting tool, with the use of machine learning to show the possibilities or potential outcomes in Google Ads campaigns. This implies that all the conclusions arrived at, are determined by machine learning.

7 0
3 years ago
Police can seize evidence not covered by a search warrant when
Mariana [72]
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4 0
4 years ago
The current​ zero-coupon yield curve for​ risk-free bonds is as​ follows: Maturity ​(years) 1 2 3 4 5 YTM 5.05 % 5.49 % 5.78 % 5
kondor19780726 [428]

Answer:

The answer is $79.42

Explanation:

Zero-coupon bonds does not make any periodic payments of interest. It pays both the interest and the face value at maturity.

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PV(present value or market price) = ?

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We are using a Financial calculator for this.

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Therefore, the market price of the bond is $79.42

7 0
3 years ago
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