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Alex777 [14]
4 years ago
7

On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it

by its customer Acme, Inc. The company uses the direct write-off method to account for uncollectible accounts. Prepare the necessary December 1 journal entry to write off this $1,200 uncollectible account journal entry
Business
1 answer:
zvonat [6]4 years ago
4 0

Answer:

See explanation section

Explanation:

To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.

December 31         Bad Debt Expense           Debit     $1,200

                              Account receivable - Acme, Inc.      Credit    $1,200

Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.

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A promotional tool in which a company lets consumers have a small sample of a product for no charge is known as?
ioda

Sampling is the promotional tool in which a company lets consumers have a small sample of a product for no charge.

Sampling is a process utilized in statistical evaluation wherein a predetermined wide variety of observations are taken from a bigger populace. The method used to pattern from a bigger populace depends on the form of evaluation being accomplished, but it can encompass easy random sampling or systematic sampling.

The number one intention of sampling is to create a consultant sample, one wherein the smaller institution (sample) appropriately represents the traits of the bigger group (population). If the pattern is properly decided on, the sample can be generalizable to the populace. there are many methods to attain a sample.

There are most important forms of sampling methods – possibility and non-opportunity sampling. Chance sampling, also known as random sampling, is a form of sample selection in which randomization is used rather than planned desire.

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5 0
2 years ago
An investor wishes to buy a new issue of U.S. Government agency bonds. You recommend that the customer purchase Federal Farm Cre
Aleks04 [339]

Answer:

The question is missing the below options:

A. par value

B. par value less a discount

C. par value plus a mark-up

D. par value plus a commission

The correct option is A, par value

Explanation:

Securities such as the Federal Farm Credit System bonds are usually sold to the public through a chain of issuing houses consisting of bank and brokers who traditionally sell to the public at par value.

The consequence of selling at par is that these issuing houses charge a percentage of par value as their commission before remitting the balance to the beneficiary of bonds issuance.

In other words, the agency issuing the bonds must consider the commission payable before deciding on the bonds to be issued.

4 0
3 years ago
Assume the risk-free rate is 4%. You are a financial advisor, and must choose one of the funds below to recommend to each of you
qwelly [4]

Answer:

Following are the solution to the given point.

Explanation:

Calculate each fund's Sharpe ratio. It Fund is the best danger reward with the highest Sharpe ratio.

\text{Sharpe Ratio} = \frac{\text{(Fund return - \text{risk free return)}}}{Volatility}\\\\\to Fund A= \frac{(10\%-4\%)}{10\%} = 0.6\\\\\to Fund B= \frac{(15\%-4\%)}{22\%} = 0.5\\\\\to Fund C = \frac{(6\%-4\%)}{2\%}=1.0\\\\

Fund C consequently offers the best risk-benefit. and without understanding client risk preference, we will advise Fund C for any clients. If a client wants to have a 22 percent minimum volatility, we'll nevertheless propose that Fund C instead of Fund B is available, because an investor can take risk-free rates to the degree that the total portfolio volatility stands at 22 percent and deposit it in Fund C.

8 0
3 years ago
A Life Settlement Broker is exclusively the representative of the __________ who seeks to sell his interest in the policy.
mote1985 [20]

Answer:

Policy owner

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A Life Settlement Broker must be a practicing, experience and licensed Life agent who represents the owner and performs a fiduciary duty to the owner to act in accordance with the owner's best interest and instructions.

6 0
3 years ago
Read 2 more answers
An investment in labor helps a business increase productivity by:
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An investment in labor helps a business increase productivity by bringing in more people to make a product.

<h3>What is an investment?</h3>

It should be noted that an investment simply means a process or action that's used to generate revenue.

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2 years ago
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