Answer:
Journal Entry
Date Particulars Debit Credit
Mar. 17 Cash $275
Bad Debts $ 1000
Accounts Receivable( Shawn McNeely) $1275
As cash is received and also bad debts are written off from the same person a combined entry can be made for the accounts receivable.
When direct write off method is used the allowance for uncollectibles is not created. The bad debts are directly written off against the accounts receivable.
Answer:
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Explanation:
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Answer:
$1,380
Explanation:
The computation of the average cost per unit is shown below:
= (Beginning inventory units × price per unit + first purchase inventory units × price per unit + second purchase inventory units × price per unit + third purchase inventory units × price per unit) ÷ (Beginning inventory units + first purchase inventory units + second purchase inventory units + third purchase inventory units)
= (5 units × $61 + 15 units × $63 + 10 units × $74 + 10 units × $77) ÷ (5 units + 15 units + 10 units + 10 units)
= ($305 + $945 + $740 + $770 ) ÷ (40 units)
= ($2,760 units) ÷ (40 units)
= $69
Now the cost of goods sold equals to
= (Inventory units × average cost per unit )
= 20 units × $69 per unit
= $1,380
Since there are total 40 units out of which 20 units are sold, so the remaining units i.e 20 units would be consider as cost of goods sold
Answer:
anything expressed in dollars
Explanation:
In the case when there is an inflation that makes specific things less valuable in the real terms is the thing that expressed in dollars
As per the given options, the full scholarship of college, real estate and the fixed month pension payment represent the more valuable
But the remaining option i.e. anything expressed in dollars show the less valuable
So, the same is to be considered