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
Svetradugi [14.3K]
3 years ago
15

All sales are made on credit. Based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. W

hat amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
Business
1 answer:
professor190 [17]3 years ago
4 0

Answer:

$4,400

Explanation:

The computation of the amount which is debited to a bad debt expense account is shown below:

=  Net Credit sales × estimated percentage given

= $880,000 × 0.5%

= $4,400

The journal entry is shown below;

Bad debt expense A/c Dr  $4,400

  To Allowance for doubtful debts  $4,400

(Being bad debt expense is recorded)

You might be interested in
Suppose a consumer is purchasing Coke and pretzels in quantities such that she is achieving consumer equilibrium. Then the price
mariarad [96]

Answer:

increase, decrease, increase

Explanation:

When know the net profit of all financial businesses is maximized, and the resource distribution must be effective and achievable, but there must be a consideration, market allocation must be competitive or well

so here when coke prices go up. The consumer will probably increase the consumption of coke and the marginal utility of the coke will decrease, while the overall utility of the coke will increase.

4 0
3 years ago
Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If
RideAnS [48]

Answer:

c. Not accrued Disclosed.

Explanation:

The management has estimated the loss contingency of lawsuit as reasonably possible. The Contingent liability is reasonably possible then it will be disclosed in the Notes to Financial Statements and not accrued in Balance sheet. If the contingent liability is probable then the accrual needs to be made in the Balance Sheet.

8 0
4 years ago
Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,200. Of
Verdich [7]

Answer:

$2.27

Explanation:

Unit Cost =

If the average cost method is used, the materials cost per unit (to the nearest cent) would be: $2.27

5 0
3 years ago
Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, and
ruslelena [56]

Answer:

1. Households decide to save a larger share of their income. - Aggregate-Demand Curve

If households in the economy started saving more of their money then this would leave less money for consumption which is one of the components of Aggregate Demand. When Consumption decreases so also will Aggregate Demand thereby shifting the Aggregate-Demand Curve to the left.

2. Florida orange groves suffer a prolonged period of below-freezing temperatures. - Short-run Aggregate Supply Curve

With the Florida Orange Groves suffering from below freezing temperatures, the oranges will not grow as much leading to a poor harvest. This will reduce the supply of oranges in the economy and shift the short-run Aggregate supply curve left.

3. Increased job opportunities overseas cause many people to leave the country. Both Aggregate-Demand Curve and Short-run Aggregate Supply Curve.

With less people in the Economy, there will be less people spending on goods and services which will cause the Aggregate Demand curve to shift to the left.

Also with people leaving the country, the labor force will decrease which will mean that less people are available to produce goods and services so the short-run Aggregate supply curve will shift left.

6 0
3 years ago
A store asked 250 of its customers how much they spend on groceries each week. the responses were also classified according to t
denis-greek [22]
Yes, I think there is a relationship between amount spent on groceries and gender because boys tend to eat more than the girls.
5 0
3 years ago
Other questions:
  • What is the name of the technique used to open the airway of an unresponsive, non-breathing guest?
    7·1 answer
  • Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that J
    13·1 answer
  • The current ratio includes at the of the following except :
    11·2 answers
  • When her salespeople bring in five new customers, marissa gives them a $1,000 payment. this is an example of a?
    6·1 answer
  • If a company is concerned about lending money to a risky customer, which one of the following would it not want to do? Require t
    10·1 answer
  • Economists usually assume that production is subject to increasing opportunity costs because: a. higher production usually resul
    9·1 answer
  • Anthony was employed as a forklift operator for Blackburn Construction Company. While on the job, he operated the forklift in a
    7·1 answer
  • Which of the following can impact your credit score
    7·1 answer
  • What signs of maturity were shown towards the end of Tall Girl? Movie
    13·1 answer
  • Flintstone Enterprises prepared the following cash budget for June: Cash receipts: $312,000 Cash disbursements: $274,000 Short-t
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!