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Alex73 [517]
3 years ago
11

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

djusted trial balance reported the following selected amounts: Accounts receivable $ 358,000 debit Allowance for uncollectible accounts 530 debit Net Sales 803,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.3% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
Business
1 answer:
const2013 [10]3 years ago
3 0

Answer:

Debit Bad Debts Expense $2,939; Credit Allowance for Doubtful Accounts $2,939

Explanation:

Estimated Uncollectibles based on the past experience = $803,000 * 0.3%  

=$2,409

Debit balance in allowance for doubtful accounts = $530

The total amount of Bad Debts Expense to be provided in the adjusting entry = $2,409 + $530

= $2,939

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In two to three sentences, explain how a tariff on cars can reduce the demand for imported cars.
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3 0
3 years ago
$800 of supplies were purchased at the beginning of the month and the Supplies account was increased. As of the end of the perio
krok68 [10]

Answer:

a.Supplies expense would be debited for $600.

Explanation:

Assuming there is no opening Inventory:

End of period supplies balance = Opening balance  + purchases in the period - Expense for the period

200 = 0  + 800 - Expense for the period

Expense for the period = 800 - 200

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So the correct option is a.Supplies expense would be debited for $600.

8 0
3 years ago
According to revised weight-loss prediction equations, a deficit of 10 kilocalories per day leads to an average weight loss of _
Nat2105 [25]
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6 0
4 years ago
Nadell Corporation reported the following data for the month of AprilInventory Beginning Ending Raw Materials $30,000 $32,000 Wo
jeyben [28]

Answer:

COGS= $181,000

Explanation:

Giving the following information:

Beginning Finished Goods= $39,000

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<u>To calculate the cost of goods sold, we need to use the following formula:</u>

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7 0
3 years ago
Sales 101 teaches you to: Always just answer the question the customer has Never try to get more information about what the cust
Natali [406]

Answer:

I think it's A) Always just answer the question the customer has.

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So that leaves answer choice A

4 0
3 years ago
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