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NikAS [45]
3 years ago
10

On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it

by its customer Acme, Inc. The company uses the direct write-off method to account for uncollectible accounts.
prepare the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
OLga [1]3 years ago
4 0

Answer:

See explanation below

Explanation:

The following will be selected in excel via the drop-down menus.

Dr; Account name = Bad debt expense/Dad debt written off $ 1200

Cr; Account name = Accounts Receivable $ 1200

The company uses the direct write-off method thus these will be the journal entries.

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Which symbol on a regulatory marker is used to mark a swimming area?
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Jones corp. reported current assets of $187,000 and current liabilities of $132,000 on its most recent balance sheet. the curren
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Hello!

acid-test (quick) ratio=(Cash+short term investments+accounts receivable)÷current liabilities

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8 0
3 years ago
One of the most important in-store factors is the salesperson. This influence can be understood in terms of ________ theory, whi
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Option (b), The salesperson is one of the most crucial in-store elements. The exchange theory, which emphasizes that each participant provides to the other and anticipates receiving something in return, can be used to explain this influence.

<h3>What does exchange theory actually mean?</h3>

According to the social exchange hypothesis, two people's relationships grow as a result of a process of cost-benefit analysis. In other words, it's a statistic designed to measure the amount of effort a person expends during a face-to-face conversation.

<h3>What are the basic tenets of the exchange theory?</h3>

The basic tenet of the theory of social trade is the concept of costs and benefits. This suggests that people's decisions and behaviors are influenced by their estimations of cost and reward. Costs are the unfavorable outcomes of a decision, including time, money, and energy. Social interactions produce benefits, which are rewards.

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6 0
1 year ago
The projected benefit obligation was $440 million at the beginning of the year. Service cost for the year was $48 million. At th
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Answer:  $47 million

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= $47 million

7 0
3 years ago
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