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mixer [17]
3 years ago
5

At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b

efore any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: A. $6,540. B. $7,800. C. $7,140. D. $7,740.
Business
1 answer:
meriva3 years ago
4 0

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

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<h2>Step-by-step explanation:</h2>

44.9&#10;&#10; % \text{of} 270.48 = 0.449(270.48) = 121.45.&#10;

44.9 % \text{ of } 308.83 = 0.449(308.83) = 138.66.&#10;&#10;&#10;

<h3>The cost of the Orlando bill:</h3>

138.66-121.45 = 17.21 higher than the national average.

So, the average Orlando eclectic bill is $138.66. This is $17.21 greater than the average electric bill in the United States.

For more information about the national average, refer below:

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2 years ago
Which of the following financial packages has the lowest total cost to the student?
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A. Because grants and scholarships are free money and loans have to be repaid. 25% is the lowest amount of loans
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3 years ago
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Answer:

On the ex date, the contracts will show as:

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The settlement of the exercise takes around 2 business working days, hence the customer must exercise the option 2 days earlier to the ex-date.

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