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Flauer [41]
3 years ago
15

Customer A. Smith owed Stonebridge Electronics $325. On April 27, 2016, Stonebridge determined this account receivable to be unc

ollectible and written off the account. The company uses the direct write-off method. On July 15, 2016, Stonebridge received a check for $325 from the customer. How should the July 15, 2016 transaction be recorded
Business
1 answer:
Kitty [74]3 years ago
6 0

Answer:

A Journal was prepared for the receivable bad debt of a customer that owned stone bridge Electronics which us shown below

Explanation:

Solution

The first step to take in this case is to Nationalize the transaction to be recorded for the month of July 15, 2016.

A JOURNAL ENTRY FOR RECEIVABLE BAD DEBT OF $325

                        Particulars              Debit          Credit

July 15, 2016   Cash Account          $325

                        To Bad Debt Expense               $325

Note: The cash and bad debt expense are  both recorded on credit and debit side of the Journal

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Anon25 [30]

Answer:

Avon Products Inc.

All Amounts in $ million

Gross Trade Accounts Receivable at the end of the year are $ 443 million + $ 86.7 million = $ 529.7 million

The amount of Bad Debts provided for the year is $ 144.1 million.

The amount of bad debts written off during the year is $ 160.2 million.

The amount of cash collected from the Customers

Opening Gross Accounts Receivable = $ 622.50 million

Sales for the year 2015 = $ 6,076.50 million

Closing Gross Accounts Receivable = $ 529.70 million

Net Collections from Customers = $ 6,169.30 million

5 0
4 years ago
________ advertising primarily maintains brand relationships and is important for mature products.
Brrunno [24]

Answer:

Reminder.

Explanation:

Reminder advertising is basically the key to retain customer by briefly messages them to remind them about a new product or anything.

8 0
3 years ago
Suppose the Federal Reserve wants to fix the U.S. exchange rate with the yen at $0.008 per yen. If the equilibrium market exchan
miss Akunina [59]

Answer:

The classification of the query is characterized throughout the explanation segment below as well.

Explanation:

As even the Fed needs to improve this same exchange money supply at $0.008, and once again the exchange rate would be $0.007, amortization throughout the stock exchange would be needed to reduce the monetary value to $0.008.

  • To start reducing that as well, the Fed hopes to pay the dollar upon that shop and bought Yen as well as enhance the amount of money in circulation throughout the market, which would rise in value this same dollar against Yen as well as lose value the currency.
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6 0
3 years ago
If a technology displays increasing returns to scale, then: a. The TC curve is increasing at a decreasing rate. b. The ATC curve
Dmitriy789 [7]

Answer:

The ATC curve is increasing at a decreasing rate.

Explanation:

Increasing returns to scale is when input used in production process in increased and output increases more than the proportion of the input used.

for example, if technology is increased by 20% and output increases by 50%.

When an input displays increasing returns to scale, the average total cost increases at a decreasing rate. this is because less input is used to produce more output

3 0
3 years ago
Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas’s contrac
expeople1 [14]

Answer:

1. $54,000

2. $50,000

3. $50,000

Explanation:

1. The computation of transaction price if the expected value is used is shown below:

= Flat fee + (Cost savings × given percentage)

= $50,000 + ($20,000 × 20%)

= $50,000 + $4,000

= $54,000

2. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000

3. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000 as there is very uncertainty due to lack of experience

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3 years ago
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