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kobusy [5.1K]
3 years ago
11

During its first year of operations, Crane Company had credit sales of $3,531,400; $664,000 remained uncollected at year-end. Th

e credit manager estimates that $36,000 of these receivables will become uncollectible. Prepare the journal entry to record the estimated uncollectible. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Business
1 answer:
Vinvika [58]3 years ago
7 0

Answer:

Bad debt expense...................Dr       $36,000

            Allowance for doubtful debts                $36,000

(To record uncollectibles)

Explanation:

Certain amount of credit sales that the manager estimates to be uncollectible is called bad debts. They are written off at the end of the year. As per allowance method, estimated uncollectibles or bad debts are charged to allowance for doubtful debts.

Here, $36,000 has been estimated by the manager as estimated uncollectible

Journal entry to record uncollectibles:

Particulars                              Debit                Credit

Bad debt expense                   $36,000

       Allowance for doubtful debts                    $36,000

(To record uncollectibles)

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Answer:

The market price of the product will fall in response to the subsidy.

Explanation:

buyers can end up capturing some of the benefit because the market price of the product will fall in response to the subsidy. the market price of the product will rise in response to the subsidy.

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2 years ago
Bob Hanson emphasizes that sending MBSC employees to seminars on a regular basis is highly motivating. It’s possible that for so
Charra [1.4K]

Answer:

The correct answer is the option C: The recognition and autonomy offered by attending seminars would result in satisfaction, but employees might also be dissatisfied if pay were poor or their ideas were not valued.

Explanation:

To begin with, the fact that some employees will find the seminars very rich in terms of learning more and therefore to increase their knowledge will stimulate the feeling of self improvement and growth not just in the company but also in their professional careers and that is why they will be more motivated at the time of doing their job but they would obviously feel dissatisfied if the pay is not worthy enough for them or even more if their ideas were not valued as they expected them to be and as the company said to them that will be.

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3 years ago
What is a specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to
katovenus [111]

The specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to help employees achieve success at both work and home considered is -work-life effectiveness. This is further explained below.

<h3>What is organizational practices?</h3>

Generally, An organizational practice is the habitual application of knowledge inside an organization for the purpose of carrying out a certain function. This application of knowledge has developed over the course of time as a result of the history, people, interests, and activities of the organization.

In conclusion, The precise combination of corporate practices, policies, and programs, plus a mindset that actively supports efforts to assist individuals to achieve success at both work and home regarded called -work-life effectiveness.

Read more about organizational practices

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4 0
2 years ago
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $800 and sold them on credi
Shtirlitz [24]

Answer:

Accounts receivable (Dr.)                          $1,075

                Sales revenue (Cr.)                                          $1,075

Cost of goods sold (Dr.)                                800

                Finished goods (Cr.)                                            800

where

Dr. = Debit

Cr. = Credit

Explanation:

The inventory account of a manufacturing firm has three sub-accounts: Raw materials, Work-in-process, and Finished goods. The goods purchased by the company were sold without any work done. It means that they were purchased in finished form, so, the company will record these goods in its finished goods inventory. When goods are sold, we have to record sales and receivable. AND on the same time, under perpetual inventory system, the cost of goods that are sold and inventory account are also adjusted to reflect the changes.

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4 years ago
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The Cutting Department of Sheffield Company has the following production and cost data for July.
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