Answer:
A. includes a chronological summary of all transactions posted to individual patient ledgers/accounts on a specific day
Answer:
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2.Provide outstanding customer service.
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4 Streamline your operations.
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6.Create compelling, eye-catching campaigns.
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Answer:
B) Tom's statements provide grounds to set the contract aside.
Explanation:
When we are talking about setting a contract aside, it means that the contract is voidable. A voidable contract is valid until one of the parts decides to void it. In this case, if Victoria decides to purchase Tom's car and later discovers that he lied about the price, she can void the contract and return the car to get her money back.
What Tom is doing is basically lying about the material facts of the product that they are bargaining and it represents a valid reason for voiding the contract.
Answer:
The correct answer is letter "A": a physical inventory is taken at the end of the period.
Explanation:
When the general ledger is only updated by the end of a period it is said that the firm is using a periodic inventory system. This approach is implemented because physical inventories could be time-consuming. It is even more helpful for small businesses since their inventory is limited.
The amount of uncollectible accounts expense recognized on the Year 2 income statement is $1,830.
Explanation:
- On January 1, Year 2, Grande Company had balance = $69,600 in the Accounts Receivable account
- Grande provided services = $183,000
- The Allowance for Doubtful Accounts account = $2,600
- The company collected cash from accounts receivable = $215,500
- Uncollectible accounts are estimated to be = 1% of sales on account
- Thus, following calculation gives the desired result,
- Multiply amount of Grande services with 1% sales on account.
- i.e : $183,000 sales on account × 1% = $1,830
- So, the amount of uncollectible accounts expense is $1,830 as the income statement for the 2nd year.
- The reserves are recorded when, the uncollectible accounts expense are debited and credit the allowance for the uncollectible accounts.
- There are many reasons for the uncollectible accounts such as,
- the debtor's bankruptcy,
- the inability to get the debtor,
- fraud, etc
