The right answer for the question that is being asked and shown above is that: "b. Personal financial management software" Among the choices that would not be used to create a personal balance sheet is that <span>b. Personal financial management software</span>
Answer:
$161,400
Explanation:
<u>Cash collection calculation</u>
December cash sales ($160,000*30%) = $48,000
<u>Credit sales</u>
December: (160000*70%*50%) = $56,000
November: (180000*70%*30%) = $37,800
October: (140,000*70%*20%) = <u>$19,600</u>
Total cash collections <u>$161,400</u>
Answer:
The amount Swifty debited to the appropriate account in 2017 to write off actual bad debts: $25,800
Explanation:
Allowance for uncollectible accounts at the end of 2017 = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - The amount of write off actual bad debts.
The amount of write off actual bad debts = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - Allowance for uncollectible accounts at the end of 2017 = $180,500 + $32,800 - $187,500 = $25,800
