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
ASHA 777 [7]
4 years ago
8

The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past

due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) Record the adjusting entry for uncollectible accounts.
Business
1 answer:
Salsk061 [2.6K]4 years ago
4 0

Answer:

Journal entry

Explanation:

Before passing the journal entry we need to do the following calculations

Uncollected amount is

= $4,400 × 50%

= $2,200

Uncollected amount is

= ($4,400 - $2,200) × 0.03

= $2,200 × 0.03

= $66

So, the total amount is

= $2,200 + $66

= $2,266

Now the journal entry is

Bad debt expense $2,266

        To Allowance for uncollectible accounts $2,266

(Being the uncollectible account is recorded)

You might be interested in
What is a type of tort?
fomenos

Answer:

There are 3 main types of tort; intentional tort, negligence tort and strict liability

Explanation:

By definition, a  tort is a civil offense against another person. The victim who suffers in that offense can sue for damages, get represented by a lawyer  and receive a compensation. There are 3 main types of tort; intentional tort, negligence tort and strict liability. Tort laws are followed when making a decision whether to hold a person legally responsible for the breach against another, and the type of compensation the injured party receives.An intentional tort for example is a civil offense committed when a person engages in intentional conduct that results in damages to another.

4 0
3 years ago
When a third party knows that an agent is acting on behalf of a principal, but does not know the identity of the principal, the
Amanda [17]
Partially disclosed or unidentified
5 0
3 years ago
When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the _______.
maksim [4K]
Letter D. W-4 is the answer to your question.
5 0
4 years ago
Read 2 more answers
What are the basic element of selection of profession describe any two of them​
Lilit [14]

Answer:

• A professional makes deliberate choices where others have choices made for them or they simply react to what comes their way.

° A professional is afforded the luxury of making deliberate choices because he has made deliberate preparations.

•A professional can make deliberate preparations because his understanding of and familiarity with the relevant (professional) landscape informs him on how to prepare. Also, like the chess master, he is trained to understand the inevitable results of hundreds of different patterns; he has disciplined himself to observe the whole board and not just the most immediate features or the area with the most tension in the game.

•A professional is seldom caught off-balance. The discipline for deliberate preparation and the understanding that comes with it allow that even when something unexpected or unfamiliar is introduced, a professional can quickly understand its basis and easily extrapolate the appropriate tactic, strategy, or process for ethically and successfully resolving issues.

•In this capacity, and most fundamentally, a professional habitually makes the right choices because all of his choices are based on the integrity provided by his moral and ethical foundation. Any choice of expedience over integrity can quite easily be recognized by anyone as the wrong choice. Here, the professional simply acknowledges what is obvious, makes the right choice, and acts deliberately (and now we're back at the start of this list).

8 0
3 years ago
On its December 31, 20X5 balance sheet, Shin Co. has income tax payable of $13,000 and a current deferred tax asset of $20,000,
mariarad [96]

Answer:

$10,000

Explanation:

To calculate income tax expense we must add income liability for the year, minus the changes in deferred tax accounts and add the change in value for deferred tax assets.

income tax expense = $13,000 - ($20,000 - $15,000) + ($20,000 x 10%) = $13,000 - $5,000 + $2,000 = $10,000

3 0
3 years ago
Other questions:
  • _________ include management's commitment to the ethics program and the methods or system for ethics evaluation.
    10·1 answer
  • What is comsumption efficiecy?
    13·1 answer
  • Johansen Corporation has a target capital structure of 60 percent common stock and 40 percent debt. Its cost of equity is 14 per
    12·1 answer
  • The following lots of a particular commodity were available for sale during the year: Beginning inventory 10 units at $60 First
    11·1 answer
  • Crane Enterprises reported cost of goods sold for 2020 of $1,290,700 and retained earnings of $4,708,100 at December 31, 2020. C
    8·1 answer
  • S.I.D. Asset Management initiated an open-end and a closed-end mutual fund a few years ago. If you want to invest in the funds t
    8·1 answer
  • The following information is available for Ivanhoe Company for the year ended December 31, 2022.
    12·1 answer
  • I just wanna do something fun so, whats an adjective and noun for king?
    6·2 answers
  • What are the OSHA guidelines for reporting injuries, illnesses, and fatalities?
    6·1 answer
  • what attracts you to jpmorgan chase, and specifically, an opportunity in the corporate analyst development program?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!