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lidiya [134]
3 years ago
15

The Reingold Hat Company uses the allowance method to account for bad debts. During 2018, the company recorded $800,000 in credi

t sales. At the end of 2018, account balances were: Accounts receivable, $120,000; Allowance for uncollectible accounts, $3,000 (credit). If bad debt expense is estimated to be 3% of credit sales, the appropriate adjusting entry will include a debit to bad debt expense of:
Business
1 answer:
olasank [31]3 years ago
4 0

Answer:

$24,000

Explanation:

Since in the question it is given that the  3% of credit sales is considered to be a bad debt expense

where,

Credit sales is $800,000

And, the estimated percentage is 3%

So by considering this above information, the amount debited to bad debt expense is

= $800,000 × 3%

= $24,000

All the other information i.e to be given is not relevant. Hence, ignored it

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All of the following are arguments against an explicit inflation targeting rule for monetary policy except:
White raven [17]

Answer:

C. An explicit target is easier to understand by households and firms which makes monetary policy more transparent.

Explanation:

Explicit inflation targeting is a monetary policy used by central banks to check inflation rate is under control for medium term. However, critics target this policy as they believe that instead central bank should have monetary policy for long term inflation control and economic growth for long term. Product price targeting or nominal income targeting would create more economic stability.

3 0
3 years ago
Which of the following methods improves the transition from one sentence to the next in a formal report?
IRINA_888 [86]

Answer:

The correct answer is letter "A": Using tabulations and enumerations.

Explanation:

There are several forms to improve the writing of a formal report. Using active voice, consistent sentences, and transitions in between sentences are some examples. When it comes to transitions they are useful to keep readers' interested. Implementing <em>tabulations and enumerations</em> at the beginning of a listing helps sentences to be linked one with another and provides the idea that after reading one sentence another is coming up.

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Why should you spend a large amount of time thinking about a big decision before you make it? need asap
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4 0
3 years ago
Read 2 more answers
Howard Corporation issued a 20-year mortgage note payable on January 1. On December 31, the unpaid principle balance will be rep
lubasha [3.4K]

Answer:

c. a long-term liability.

Explanation:

Short term liabilities are those liabilities which need to be paid within one year time and Long term liabilities are those liabilities which need to be paid after one year time.

In this question on December 31, Howard Corporation need to pay the principal in 19 years from now, as it it a long period, so amount of principal will be classified as a long-term liability.

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4 years ago
In the aggregate expenditures model if aggregate expenditures equal 800 billion and real GDP equals 600 there is a______________
Llana [10]

Answer:

unplanned inventory accumulation equals -$200 billion.

Explanation:

As we know that

Unplanned inventory equals to

= Real GDP - aggregate expenditures

= 600 billion - 800 billion

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Since the real GDP is less than the aggregate expenditure, so the unplanned inventory should come in negative amount else it comes in a positive amount

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