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Ksju [112]
3 years ago
8

Mills Corporation's balance sheet included the following information: Accounts Receivable $ 560,000 Less: Allowance for Doubtful

Accounts 71,000 Accounts Receivable, Net of Allowance $ 489,000 If the Allowance account had a credit balance of $30,500 immediately before the year-end adjustment for bad debts and no accounts were written-off or allowed for during the year, what was the amount of Bad Debt Expense recognized during the year?
Business
1 answer:
pashok25 [27]3 years ago
3 0

Answer:

$40,500

Explanation:

The computation of the amount of  Bad Debt Expense recognized during the year is shown below:

Bad debt expense = Accounts Receivable - Net of Allowance - credit balance in allowance for doubtful accounts before adjustment

= $560,000 - $489,000 - $30,500

= $40,500

All other information i.e given in the question is not relevant. Hence, ignored it

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Fofino [41]

Integrated marketing communications is being used by Lush Lawns to promote its business, as they are using the same logo and shade of green in all forms of communication including its online ads, truck signage, Web site, and business cards.

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Thus they are using Integrated marketing communications.

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1 year ago
I am conducting a survey as a project. I need ur help Which one you like 1. Ferrari 2. Lamborghini 3. Mclaren and why?? ( If you
Ne4ueva [31]

Answer:

Explanation:

Compared to the McLaren, the Lamborghini has less power, a heavier engine, and less active aerodynamic designs. This allows the Huracán Performante to be an excellent supercar with extreme sounds, feels, and the excitement of a Lamborghini, but in performance the McLaren is superior.

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3 years ago
Elsem Foods Inc. is a company that manufactures packaged food. It sells several varieties of packaged food such as chips, cupcak
valentina_108 [34]

Answer:

Orange juice, apple juice, cranberry juice, and lychee juice are all product items of Elsem Foods.

Explanation:

A product item is a specific type or variety of product that is different than other products that a company sells.

In this case orange, apple, cranberry and lychee juices are all product items which are part of the tropical fruit juices product line of Elsem Foods.

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3 years ago
__________ begins with new-product purchases first by innovators and then by early adopters.
elena-s [515]

Diffusion of innovation

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3 years ago
Assume Merck (MRK) just announced that its next dividend will be $2, paid one year from now (you just missed the prior annual di
Ludmilka [50]

Answer:

$28.57

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D1 (Next dividend) = $2

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Current price = $2/(0.1-0.03)

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Current price = $28.57

Hence, i will be willing to pay $28.57 for a share of Merck stock.

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3 years ago
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