A lot more than 100k I believe
Answer:
The correct answer is c) $72,000
Explanation:
(Using the percentage of net sales method)
- Uncollectible accounts expense for the year is estimated to be $54,000
- If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment.
$54,000 + $18,000= $72,000
The balance after adjustment is $72,000
Answer:
(C) Cash
Explanation:
Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.
So when receivables are collected, then the asset account Cash is increased.
On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.
<span>The nominal group technique which is a group process involving problem identification, solution generation, and decision making. Its uses are in groups of many sizes, who want to make their decision quickly, as by a vote, but want everyone's opinions taken into account</span>
