Answer:
$52,710
Explanation:
Calculation for allowance for uncollectible accounts credit balance
Using this formula
Allowance for uncollectible accounts credit balance=Estimated gross uncollectible accounts receivable *Accounts receivable
Let plug in the formula
Allowance for uncollectible accounts credit balance=7%* $753,000
Allowance for uncollectible accounts credit balance=$52,710
Therefore After adjustment at December 31, 2020, the allowance for uncollectible accounts should have a credit balance of $52,710
The sample standard deviation of this dataset is =19.1.
The Standard deviation is a degree of the amount of variant or dispersion of a set of values. A low widespread deviation indicates that the values tend to be near the mean of the set, at the same time as a high widespread deviation indicates that the values are spread out over a much wider variety.
x x- \bar x=x-101 (x-ˉx)2
96 -5 25
125 24 576
80 -21 441
110 9 81
75 -26 676
100 -1 1
121 20 400
∑x=707 ∑(x-\bar x)=0 ∑(x-\bar x)2=2200
Mean \bar x =∑x/n
=96+125+80+110+75+100+121/7
=707/7
=101
Sample standard deviation S=√∑(x-\bar x)2/n-1
=√2200/6
=√366.6667
=19.1
Learn more about standard deviation here:-brainly.com/question/475676
#SPJ4
Answer:
Entry: 1. Dr bad debts expense 5500
Cr Allowance for uncollectible accounts 5500
Explanation:
1.Account receivable = $44000
Allowance for uncollectible accounts(Dec,31 2021) = $1100
44000* 15% = 6600 - 1100 = $5500 Allowance for uncollectible accounts
2. Bad debts expense = (44000* 15%) = 6600
3. Uncollecible accounts = (Open) Allowance for bad debts + Current year Allowance.
= 1100 + 6600 = $7700.
4. 44000 - 7700 = $36300 net account receiable
Answer:
Equilibrium Price - 3
Equilibrium Quantity - 3
Explanation:
The price at which there will be equilibrium in the chocolate market is 3 units while the corresponding quantity is also 3 units.
<u>The equilibrium price and quantity represents the price and quantity where the demand for a product is equal to the supply for the same product respectively.</u>
<em>In the graph, the point of intersection of the demand and the supply curve represents the equilibrium point. At this point, the price on the Y axis is 3 units while the corresponding quantity on the X axis is also 3 units.</em>
