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Licemer1 [7]
3 years ago
13

Manley operates a law practice on the accrual method and calendar year. at the beginning of the year manley's firm had an allowa

nce for doubtful accounts with a balance of $15,000. at the end of the year, manley recorded bad debt expense of $23,000 and the balance of doubtful accounts had increased to $18,000. what is manley's deduction for bad debt expense this year?
Business
1 answer:
vazorg [7]3 years ago
4 0

The bad debts expense signifies the straight write off of the bad accounts which is the $20,000 along with an increase in the allowance which is an approximation of the bad accounts to be written off in the future which is the $3,000. The growth in the allowance account cannot be subtracted.

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Answer:

The answer is: D) A 401(k) is controlled and monitored by an employer, and an IRA is controlled by the investing individual.

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A 401(k) is sponsored and controlled by an employer. The employer decides where the money is going to be invested. Sometimes the employer may match some of the employees' contributions. The employer can also take loans or hardship withdrawals from the 401(k) funds.

While IRA accounts are held by custodians which are banks or brokerage firms.

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Jamie cannot use the Venn diagram as the best compare and contrast graphic organizer for his project. Thus, The correct answer is False.

<h3>What is a Venn diagram?</h3>

Venn diagram is used to compare elements of the same type. This includes cross-sectional circles where you write features that do not include each element, as well as the common ones.

This type of diagram is recommended when comparing two or three elements because you need a circle or space for each element, so it is not possible to compare several elements.

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To learn more about the Venn diagram, refer to the link:

brainly.com/question/26090333

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they wanted to eliminate prices

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hope this helped :)

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