In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of
$82,000. During the year, Dinty wrote off $32,000 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,200,000, and cash collections from credit customers totaled $1,950,000. What bad debt expense would Dinty report in its first-year income statement?
Dinty Inc. during the year canceled the accounts receivable it had attempted to collect and failed for $ 32,000 and reported a provision for bad accounts of $ 82,000. Both operations have to be registered against "Bad debt expenses" because they represent accounts receivable that are presumed to be without recoverable value.
Explanation: In simple words, joint ventures refers to the business arrangement under which two or more independent parties join their operation for the purpose of doing business more effectively.
Worldwide can go for joint venture as it would be less costly then mergers and acquisitions since they have to buy a part of the entity also they can control the entity as per their share in it.
an automatic deposit will put a set amount of money away into savings without you having to do it that way you will not have to worry about it and won't be tempted to spend it instead of saving it. it's a good strategy because it eliminates that temptation and makes it so much easier to save without falling off track
