1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Hunter-Best [27]
3 years ago
12

Beta Corporation wrote off $100,000 due from a specific client in March 2011. However, this client was able to make a Partial pa

yment of $40,000 in June 2011. Recording this cash collection will involve all of the following accounts except:_________.
A. Bad Debt Expense
B. Accounts Receivable
C. Cash
D. Allowance for Uncollectible Accounts
Business
1 answer:
Otrada [13]3 years ago
4 0

Answer:

Option D Allowance for noncollectable Accounts.

Explanation:

The bad debt recovery recording is a two step process.

Step 1 Reverse the entry of bad debt with the amount received

Dr Trade Receivable $40,000

Cr                   Bad debts    $40,000

Step 2 Now record the receipt of amount as a reduction in trade receivable and increase in cash asset.

Dr  Cash  $40,000

Cr Trade Receivables $40,000

The only account unconsidered here was Allowance for the noncollectable account.

You might be interested in
What is the biggest attraction for businesses considering engaging in
ivann1987 [24]

Answer:

the size of the market on a p e x

Explanation:

5 0
3 years ago
Read 2 more answers
A noncomissioned employee in a company, your pay rate is based on
ipn [44]
<span>if you are an employee who is not working on a commission basis, then most likely, you are working as a salary based employee. Your salary would usually be based on your going rate or your market value to the employers. Based on your caliber, the employers will decide what your salary would be. For example, if you are a fresh grad, you will start with an entry level salary while if you are a manager, you will obviously be receiving a higher salary.</span>
5 0
3 years ago
You have just purchased a car and, to fund the purchase, you borrowed $25,000. If your monthly payments are $402.18 for the next
Naya [18.7K]

Answer:

E) 4.96%

Explanation:

The computation of the APR could be determined by applying the RATE formula i.e. shown below:

Given that

PMT = $402.18

Present value = $25,000

NPER = 6 × 12 = 72

FUture value = $0

The formula is shown below:

=RATE(NPER;PMT;-PV;FV;TYPE)

After applying the above formula, the annual percentage rate of the loan is

= 0.4135%  × 12

= 4.96%

hence, the correct option is E.

4 0
3 years ago
Think about the following situation and tell me what
romanna [79]
If you lie about your age then show him your real age. Also if you forget your id or social security number that’s shows that your not ready at all times for the job
4 0
2 years ago
Which is a commodity someone might invest in?
monitta

Answer:

b) natural resources

Explanation:

Natural resources refer to valuable materials found beneath, above, and on the earth's surface. They are naturally occurring, meaning no human effort is required in producing them. Natural resources make a good source of wealth. Examples of natural resources are land, mineral, oils and gas, forests, water, sunlight, wind, and many others.

Anyone with access to natural resources can invest to make them marketable products. Extraction of oil and refining is an example of investing in natural resources. Processing of trees to wood, use of solar to generate power are other examples.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Computers are typically protected from viruses by the use of
    12·2 answers
  • During the RFP stage, B2B buyers:
    10·1 answer
  • Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct
    10·1 answer
  • Just half a decade after the 2008 global financial crisis, an estimated 50 _______ individuals were, from a statistical point of
    13·1 answer
  • Match the following items.
    7·1 answer
  • Economics ch 7 <br> What are the 2 barriers to entry in a market
    14·1 answer
  • Have you ever financed anything on a short term or long term arrangement? ​
    5·1 answer
  • (ASAP) please help….
    9·1 answer
  • Identify the type of costs that would be considered incremental cost for a decision to close stores. (You may select more than o
    11·1 answer
  • What is total surplus with a tax equal to?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!