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bogdanovich [222]
3 years ago
11

Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and uncollectible accou

nts expense is estimated at 2% of sales. If sales are $600,000, the amount of the adjusting entry to record the provision for doubtful accounts is:
Business
1 answer:
BabaBlast [244]3 years ago
4 0

Answer:

$11,500

Explanation:

Given

Sales = $600,000

And uncollectible accounts expense is estimated at 2% of sales

Therefore,

uncollectible accounts expense = 2% × $600,000

                                                      = $12,000

Since allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), the account has to be adjusted by

= $12,000 - $500

= $11,500

The amount of the adjusting entry to record the provision for doubtful accounts is $11,500.

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Answer:

Letter e is correct. <u>A independent variable.</u>

Explanation:

In this question, the most appropriate alternative is the letter e, an independent variable.

In statistics, an independent variable is one whose measure will not depend on any other variable, unlike the dependent variable which corresponds to a measure that will always depend on another variable measure.

8 0
3 years ago
Read 2 more answers
Equipment, beginning of year $ 340,000 Equipment, end of year 420,000 Accumulated depreciation, beginning of year 190,000 Accumu
sertanlavr [38]

Answer:

$100,000

Explanation:

The computation of the amount of cash paid for the purchase of equipment is shown below:

= Ending balance of an equipment + book value of the equipment - beginning balance of an equipment

= $420,000 + $20,000 - $340,000

= $440,000 - $340,000

= $100,000

We simply applied the above formula so that the amount of cash paid for the purchase of the equipment could come

3 0
4 years ago
Suppose there is a simultaneous increase in the demand for rice and increase in the supply of rice. Which of the following will
patriot [66]

Answer:

C) The market learing price may rise, fall, or stay the same, but the equilibrium quantity will rise. 

Explanation:

An increase in demand would lead to an increase in demand and price.

An increase in supply would lead to an increase in supply and a fall in price.

The combined effect would lead to an increase in equilibrium quantity but the effect on equilibrium price would be indeterminate.

I hope my answer helps you

6 0
3 years ago
What two trends in the past decade have significantly influenced global marketing?
SOVA2 [1]

The two trends that influenced global marketing in the last decade were:

  • Formal economic integration.

  • Free trade between nations.

Global marketing can be defined as a management strategy for organizations that also market their products and services in foreign countries.

Globalization has enabled formal economic integration and free trade between nations, and has created the possibility for companies to increase their profitability and market share.

As an example, we can mention the fast-food chain <em>Mc Donalds,</em> which has a presence almost all over the world, but which adapts its burgers according to local habits.

Therefore, a global company must adopt global marketing, that is, adapt to local customs, culture and preferences for the business to be successful.

Learn more here:

brainly.com/question/1528741

4 0
2 years ago
What are the three conditions for a market to be perfectly​ competitive? For a market to be perfectly​ competitive, there must b
xz_007 [3.2K]

Answer:

There are 4 conditions that make a market to be perfectly competitive:

  1. There must be a large number of buyers and sellers, and each one must be relatively small.
  2. All the sellers produce identical products or services.
  3. There are no barriers for entry or exit.
  4. All the buyers and sellers are price takers, no one can set the price at their own will.

5 0
3 years ago
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