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Darya [45]
3 years ago
11

Over the past five years, a company had average annual credit sales of $320,000 and this year had write-offs of $2,000. Credit s

ales in the current year are $300,000. The balance in the Allowance for Doubtful Accounts is a $500 credit. Using the percentage of credit sales method and an estimate of 1%, what amount should the company record as an estimate of bad debt expense
Business
1 answer:
Zielflug [23.3K]3 years ago
7 0

Answer:

$2,500

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Estimated allowance for doubtful accounts = Credit Sales x percentage = $300,000 x 1% = $3,000

Current Balance = $500 credit

As Allowance for Doubtful Accounts already have credit balance of $500, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $3,000 at the year end.

Adjustment Value = $3,000 - $500 = $2,500

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Choose the best closing for a message requesting the receiver's support for a proposed change in a benefits plan.
MrRissso [65]

Answer:

c. Contacting me by December 1 about your support of this new benefits plan will allow me to present this proposal at the next strategic planning session.

Explanation:

The closing for a request should indicate a deadline for receiver, which can help to engage receiver in sender’s process.

Even though in this scenario, the sender is requesting for a support which might be not receiver’s responsibility to accept the benefit plan, but the sender can smartly appreciate the receiver if he can have the support by December 1.

I suppose with this closing in an email, receiver will put this mail in his working calendar or prioritized list if he really care and want to support this plan.

3 0
3 years ago
6. Why is it important to consider the structure of your resume and what
Mkey [24]

Answer:

<h2>include the following week I have a a but this is the real account of Finn have a great day today with my mom said you didn't want me there was an accident in the middle of nowhere near as much </h2>

Explanation:

that my answer po

7 0
2 years ago
______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data
Mademuasel [1]

Answer:

The correct answer is option A.

Explanation:

Marketing research refers to the set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision-makers involved in marketing goods, services, or ideas.

It involves a number of steps such as defining the objectives and research needs, designing the research, collection of data.  

Marketing research is helpful in making decisions related to marketing goods, services and ideas.

5 0
3 years ago
A construction company entered into a fixed-price contract to build an office building for $28 million. Construction costs incur
Radda [10]

Answer:

$3.2 million

Explanation:

The revenue and gross profit or loss which the company identify in the first and second year if it recognizes revenue upon contract completion is calculated below.

Total costs = Incurred costs + estimated costs to complete = $8 million + $12 million = $20 million

Revenue to recognize = $8m/$20m*$28m = $11.2 million

Gross Profit = Revenue recognized less costs incurred

= $11.2m - $8m = $3.2 million

4 0
3 years ago
________ entails even closer economic integration and cooperation than a common market. Group of answer choices A customs union
Goshia [24]

Answer:

An economic union

Explanation:

Economic integration can be defined as a strategic trade arrangement between countries to eliminate or mitigate trade barriers, as well as coordinate fiscal and monetary policy among its members.

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time. There are different types of market or trade bloc used in economic integration and these includes;

I. Customs union

II. Free trade area

III. Common market

IV. Political union

VI. Economic union

An economic union can be defined as a trade bloc which comprises of both customs union and a common market.

In a common market, there are free movement of the factors of production and no barrier to trade between member countries. Also, a common market establishes a common external trade policy for non-member countries.

However, an economic union entails even closer economic integration and cooperation among member countries than a common market because it combines customs union and a common market.

8 0
2 years ago
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