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Tju [1.3M]
3 years ago
9

Hillside Garden Co. uses the aging of accounts receivable method to determine its allowance for uncollectible accounts. On Janua

ry 16, Hillside Garden Co. wrote off an uncollectible account in the amount of $1,300. What effect does the write off have on the company’s financial statements
Mathematics
1 answer:
Dmitry_Shevchenko [17]3 years ago
5 0

Answer:

The answer is: The write off will reduce the Accounts Receivables account in the balance sheet by $1,300.

Step-by-step explanation:

When you use the aging method for determining uncollectible accounts, this will affect the balance sheet.

The January 16 records should be:

  • Dr Allowance for Doubtful Accounts 1,300
  • Cr Accounts Receivables 1,300

The write off will reduce the Accounts Receivables account in the balance sheet by $1,300. The Allowance for Doubtful Accounts account is a contra asset account that reduces the value of assets in the balance sheet.

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Suppose that 37% of college students own cats. If you were to ask random college students if they own a cat what would the proba
Likurg_2 [28]

Using the binomial distribution, the probabilities are given as follows:

a) 0.37 = 37%.

b) 0.5065 = 50.65%.

c) 0.3260 = 32.60%.

<h3>What is the binomial distribution formula?</h3>

The formula is:

P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}

C_{n,x} = \frac{n!}{x!(n-x)!}

The parameters are:

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  • n is the number of trials.
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For this problem, the fixed parameter is:

p = 0.37.

Item a:

The probability is P(X = 1) when n = 1, hence:

P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}

P(X = 1) = C_{1,1}.(0.37)^{1}.(0.63)^{0} = 0.37

Item b:

The probability is P(X = 3) when n = 3, hence:

P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}

P(X = 3) = C_{3,3}.(0.37)^{3}.(0.63)^{0} = 0.5065

Item c:

The probability is P(X = 2) when n = 4, hence:

P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}

P(X = 2) = C_{4,2}.(0.37)^{2}.(0.63)^{2} = 0.3260

More can be learned about the binomial distribution at brainly.com/question/24863377

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solution;

let,the number be x,

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