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Alex73 [517]
3 years ago
11

Manning Company uses the allowance method. At the end of its first year of operations, the company estimates that it will not co

llect $2,500 of its accounts receivable. Prepare the appropriate adjusting journal entry to establish the estimate for uncollectible accounts.At the end of each period, the company estimates the necessary balance in the allowance for uncollectible accounts and then records whatever adjustment to the allowance and corresponding bad debt expense is necessary to reach that balance.
Business
1 answer:
allochka39001 [22]3 years ago
5 0

Answer:

Explanation:

The adjusting entry is shown below:

Bad debt expense A/c Dr $2,500

       To Allowance for doubtful debts $2,500

(Being adjusting entry is recorded)

For passing the adjusting entry we have to debit the bad debt expense and credit the allowance for doubtful debts. As bad debt is an expense so we debited it and the allowance for doubtful debts is a contra asset so we credited it

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Answer and Explanation:

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3 years ago
According to, "Ditching the Dollar," having multiple reserve currencies to choose from is healthy because:
posledela

Answer: D. If one country creates all the reserves it can prevent other countries from trading.

Explanation:

<em>Ditching the Dollar</em> refers to a movement by nations to reduce the dependence on the US. dollar for transactions.

The USD is the major currency for trade around the world with it accounting for the currency of use in more than 50% of the entire World trade. This was due to the Bretton Woods Agreement and System which at the time pegged the USD to gold and other currencies at certain value to the USD.

The influence the USD gained that day continues today. Countries however are increasing becoming fed up by the United States using the Dollar to impose trade restrictions and sanctions on countries and then requiring everyone to fall in line because trades are mostly done in the currency controlled by the US, the USD.

For instance, when sanctions were imposed on Iran, the European Union looked for alternative means of payment for Iranian oil.

Ditching the Dollar therefore argues that having multiple reserve currencies to choose from is healthy because one country will not be able to control world trade as the US has.

8 0
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Which are the first steps you should consider when constructing an online business strategy.
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The first steps you should consider when constructing an online business strategy are: create goals and identify a USP.

<h3>What is a business strategy?</h3>

A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers and possess a competitive advantage over its rivals in the industry.

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Generally, there are four (4) main types of business strategy and these include the following:

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In Business management, the first steps you should consider when constructing an online business strategy are:

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Read more on business strategy here: brainly.com/question/17130109

#SPJ1

Complete Question:

Which are the first steps you should consider when constructing an online business strategy?

Create goals and identify a USP

Understand the target audience

Change your mission statement to match the goals

Define and segment your audiences

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