Answer: Please see answers in explanation column
Explanation:
Accounts title and explanation Debit Credit
Sales returns and allowances $121,200
Sales refund payable $121,200
Calculation
Expected Sales returns and allowances = sales x expected percentage
= 2,020,000 x 6%= $121,200
Accounts title and explanation Debit Credit
Inventory returns estimated $72,600
Cost of goods sold $72,600
Calculation
expected Cost of goods sold = Cost of goods soldx expected percentage
= 1,210,000 x6%=$72,600
Answer:
Allowance for uncollectible accounts
Explanation:
This account is a contra asset account which says that the account receivable amount is not collected in near future
It is shown in the asset side of the balance sheet
Assets side
Current Assets
Accounts receivable XXXXX
Less: Allowance for doubtful debts (XXXXX)
Net accounts receivable XXXXX
It is an estimated amount which is not to be paid by the customer in respect to goods delivered to them
The journal entry would be
Bad debt expense A/c Dr XXXXX
To Allowance for uncollectible accounts A/c XXXXX
(Being the uncollected amount is recorded)
Answer:
Explanation:
People who want to obtain credit goods services from financial institutions can use their economic political property rights to do so.
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Answer:
Tbh idk the answer im soo sorry.
Explanation:
Answer:
C. value delivery network.
Explanation:
The value chain includes the range of activities that businesses undertake at every stage to enhance the value the customers. They involve designing, production, and delivering the products. The value delivery network refers to all the business entities that add value to company goods and services.
In the supply chain, the focus is moving to the product from its point of origin to the customer. The value delivery network aims at adding value to them at every stage. The supply chain is operation management-oriented, but the value network is a business management concept. The value delivery network's objective is to increase the competitiveness of the products.
