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3 years ago

At the end of 2016, Sunland Company has accounts receivable of $653,700 and an allowance for doubtful accounts of $24,200.

Business

1 answer:

Anton [14]3 years ago

4 0

Answer:

allowance for doubtful accounts 4,245 debit

accounts receivables 4,245 credit

--to record write-off of Madonna Inc account--

Explanation:

Prepare the journal entry to record the write-off.

To record the write-off we will decrease both, the allowance and the accounts receivable for the amount we consider uncollectible. Under allowance method the company never uses bad debt expense at write-off it only does at year-end adjustment

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Which of the following is false regarding the statute of frauds? a. It relates to fraudulent contracts. b. It does not address i

Tema [17]

Answer:

a. It relates to fraudulent contracts

Explanation:

The statue of frauds refers to the contract which have legal existence and should be in writing so that the parties to the contract should be bounded to the contract and fulfill their conditions mentioned in the question

It purpose is to detect

It mainly uses for MY LEGS which means that

M - Marriage, Y -Year, L - Land, E - Executor, G -Guarantor, and S -Sale

The conditions are as follows

1. It should be in writing

2. Simple to understand

3. Agreed price and lawful consideration

4. Signature of parties to the contract

so according to the given situation, the first option is correct

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3 years ago

Analyze the effectiveness of Postbellum policies by explaining if Reconstruction succeeded or failed in the areas of Economics –

zlopas [31]

Reconstruction refers to the period of American history that followed the Civil War. During this time period, the country attempted to recover from the damage of the war. It also attempted to integrate former slaves into mainstream society.

Although Reconstruction was not a complete success, I consider that it was still an effective way to achieve long-lasting change. The Reconstruction allowed the rebuilding of the economy by integrating the former slaves into the labor force. It also forced employers or landowners to pay their black workers. Reconstruction helped the black population of the country enjoy the rights and freedoms that they were able to achieve.

3 0

3 years ago

What economist is known for the use of microcredit?

Charra [1.4K]

Answer:

Muhammad Yunus

Explanation:

8 0

3 years ago

If the rate of interest increases 1 percent, what will be the bond’s new price

trasher [3.6K]

Not enough information. need original interest and possibly bond type

4 0

3 years ago

In the month of March, Sandhill Salon services 630 clients at an average price of $120. During the month, fixed costs were $26,1

vichka [17]

Answer:

Part 1. total contribution margin in dollars

Total Contribution Margin = $37,800

Part 2. per unit contribution margin

contribution margin per unit of sell = $ 60

Part 3. contribution margin ratio

contribution margin ratio = 50 %

Part 4. break-even point in dollars

break-even point in dollars = $ 52,320

Part 5. break-even point in units

break-even point in units = 436 clients

Explanation:

Part 1. total contribution margin in dollars

contribution margin per unit of sell = Sales Price × 50%

= $120 × 50%

= $ 60

Total Contribution Margin = Number of Clients × Contribution Margin per unit

= 630 × $60

= $37,800

Part 2. per unit contribution margin

contribution margin per unit of sell = Sales Price × 50%

= $120 × 50%

= $ 60

Part 3. contribution margin ratio

contribution margin ratio = Contribution / Sales

= $ 60/ $ 120

= 50 %

Part 4. break-even point in dollars

break-even point in dollars = Fixed Costs / contribution margin ratio

= $26,160 / 0.50

= $ 52,320

Part 5. break-even point in units

break-even point in units = Fixed Costs / contribution per unit

= $26,160 / $60

= 436 clients

6 0

3 years ago