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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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Suitability Information Gathered by an Insurer

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7 0
1 year ago
Which element in the article indicates that when the article refers to GDP, it is talking about inflation-adjusted GDP
Serjik [45]

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3 0
3 years ago
On January 1, 1980 Moses deposit $1850 into a savings account paying 5.6% interest compounded quarterly if he hasn’t made any ad
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Answer: 12.86 years.

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3 years ago
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From the above information, it is true that the company is running a budget deficit.

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7 0
2 years ago
g Mystery Inc has a beta of 1.1. The firm just paid a dividend of 60 cents and the dividends are expected to grow at 5.5% per ye
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Answer:

6.91%

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cost of equity=6.91%

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