Answer:
Debit Allowance for Doubtful Accounts $2,300; credit Accounts Receivable $2,300
Explanation:
The journal entry is shown below:
Allowance for Doubtful Accounts A/c Dr $2,300
To Accounts Receivable A/c $2,300
(Being the written-off amount is recorded)
Since we have to record this journal entry so we debited the Allowance for Doubtful Accounts A/c and credited the account receivable account so that the correct posting can be done.
You can be.
If you like animals, this is a job for you. Ask yourself "Could I be a doctor?" If you think you could, then go for a vet job!
Good luck!
Answer:
The answer is "$1000 and $2450"
Explanation:
In point a:
Credit of American Refundable Chance:
when
deduction is upto
credit upto
i s refundable
![\to AOLC_{Anthony} =\$5000 \times 20\% = \$1000\\\\\to AOLC_{Nicole} =\$3800 \times 20\% = \$760](https://tex.z-dn.net/?f=%5Cto%20AOLC_%7BAnthony%7D%20%3D%5C%245000%20%5Ctimes%2020%5C%25%20%3D%20%5C%241000%5C%5C%5C%5C%5Cto%20AOLC_%7BNicole%7D%20%3D%5C%243800%20%5Ctimes%2020%5C%25%20%3D%20%5C%24760)
In point b:
deduction for first
deduction max upto
![\to AOLC_{Anthony} =\$2000 +(5000 -2000) \times 0.25 = 2750 \\\\\to AOLC_{Nicole} =\$2000 +(3800 -2000) \times 0.25 = \$2450](https://tex.z-dn.net/?f=%5Cto%20AOLC_%7BAnthony%7D%20%3D%5C%242000%20%2B%285000%20-2000%29%20%5Ctimes%200.25%20%3D%202750%20%5C%5C%5C%5C%5Cto%20AOLC_%7BNicole%7D%20%3D%5C%242000%20%2B%283800%20-2000%29%20%5Ctimes%200.25%20%3D%20%5C%242450)
D for sure is the correct answer
Interest-bearing checking account.