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Veseljchak [2.6K]
2 years ago
5

Which of the following is an accounting procedure that (1) estimates and reports bad debts expense from credit sales during the

period the sales are recorded, and (2) reports accounts receivable at the estimated amount of cash to be collected?A) Adjustment method for uncollectible debts.B) Allowance method of accounting for bad debt.C) Cash basis method of accounting for bad debts.D) Aging of notes receivable.E) Direct write-off method of accounting for bad debts.
Business
1 answer:
Murljashka [212]2 years ago
7 0

Allowance method of accounting for bad debts .

Option - B

<u>Explanation: </u>

The financial accounting term payments method refers to a system that is unplayable and records a bad debt expenditure estimate in the same period of accounting as the purchase. The deduction is used to adjust the cash flow accounts receivable.

The payment method is a better solution to the direct payment method because it is in line with the matching accounting theory.

Bad debts expenses are recognized soon since bad debts are likely and can be estimated to a fairly precise degree so that they meet the criteria necessary to recognize predicated losses and recognize the costs of bad debts.

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Supply and demand says if you got a lot of something prices go down. So if you have a lot of cheap iron, you can make a lot of cheap steel
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A company's Income Tax Payable account decreased from $14 million to $12 million during the year. If its income tax expense was
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A cash outflow of $82 million is correct answer

Explanation:

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2 years ago
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If an investor wants to save money over a long period without easy access to the money and knowing the interest rate will not change, they need <u>A. Bonds</u>.

<h3>What are bonds?</h3>

Bonds are securities that guarantee the return of capital and periodic interests on a long-term basis.

Types of Bonds include:

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Therefore,<em> if a manager is measuring performance only placing focus on employees' recent and not past behavior, the manager is implementing availability bias.</em>

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