1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleks04 [339]
3 years ago
8

Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59

8000 and credit sales are $2620000. Management estimates that 5% of accounts receivable will be uncollectible. What adjusting entry will Bramble Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4800 credit balance before adjustment?
Business
1 answer:
shusha [124]3 years ago
7 0

Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars                                          Debit              Credit

Bad debts expense                            XXXXX

     Allowance for doubtful debts                               XXXXX

(Being bad debts incurred)

Noe, Allowance for doubtful debts has a credit balance of $4,800.

Bad debt incurred = 29,900 - 4,800 = $25,100

So adjusting entry :

Particulars                                          Debit              Credit

Bad debts expense                            $25,100

     Allowance for doubtful debts                             $25,100

(Being bad debts incurred)

You might be interested in
Which of the following survey response methods is the most difficult for researchers to code for evaluation:
Tju [1.3M]

Answer:

No options are given, but the most commonly used survey response methods are:

  1. Multiple choice questions = generally easy to code
  2. Rating scale questions = also easy to code, since response scales have a finite number of choices, e.g. 2 true/false, 3 agree/disagree/undecided, 5 very bad/bad/fair/good/excellent
  3. Matrix questions. = are a little bit more complex since they involve several rating scale questions, but it is not something difficult either
  4. Dropdown questions. = similar to multiple choice questions
  5. Open-ended questions. = this are hard to code since each subject can respond different things, e.g. the thing that I like the most about this project is bla, bla, bla. There are no pre-set answers given to the subjects. THIS TYPE IS THE MOST DIFFICULT TO CODE.
  6. Demographic questions = similar to multiple choice
  7. Ranking questions = similar to scaled questions

3 0
3 years ago
Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases.
AysviL [449]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

The statement "<span>Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases. " is true </span>
7 0
3 years ago
1. The people, procedures, hardware, software, data, and knowledge needed to develop computer systems and machines that can simu
mario62 [17]

"Learning, reasoning, and self-awareness" are among the people, procedures, equipment, software, data, and knowledge needed to create computer systems and computers that may replicate human intelligence.

<h3>Define the term process intelligence?</h3>

Process intelligence is intelligence that has been methodically gathered to examine each step in an operational workflow or business process.

  • An organization can increase operational efficiency and detect bottlenecks with the aid of process intelligence.
  • Process intelligence aims to give an organization reliable information about the work items that are currently in use, who is performing them, how long it takes to finish each task, how long the average waiting time is, and which of the bottlenecks are.
  • By tracking and examining processes in the past or in the present, process intelligence technology can assist an organization in improving process management.
  • Software for process intelligence is particularly helpful for managing and evaluating nonlinear processes with numerous dependencies.

Thus, the people, processes, tools, gear, software, information, and knowledge required to build computer systems and computers that might replicate human intelligence include "learning, reasoning, and self-awareness."

To know more about the cognitive process, here

brainly.com/question/28929319

#SPJ4

8 0
1 year ago
What is a major advantage of globalization?
Alja [10]

Answer:

A. Businesses are able to sell products to customers around the world.

Explanation:

3 0
3 years ago
If a business offers both routine and specialized​ services, a single cost driver rate will​ overprice: A. the specialized servi
Svetlanka [38]

Answer:

D. the routine service.

Explanation:

Single cost driver rate: It is a cost assigned to each unit of cost driver activity directly. Cost driver also influence other business activity and effect the total cost incurred.

In the given case, Business offer both routine and specialized service, as we know single cost driver influence driver directly, therefore, cost driver of specialized service will overprice the routine service.

6 0
3 years ago
Other questions:
  • The following events occurred for Favata Company: Received $16,000 cash from owners and issued stock to them. Borrowed $13,000 c
    6·1 answer
  • Which financial activity helps a company based in another country
    15·1 answer
  • Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and f
    15·1 answer
  • What is the total dollar amount of personal and dependency exemptions which a married couple with two children (ages 11 and 14,
    13·1 answer
  • Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period
    9·1 answer
  • If the marginal product of labor falls whenever more labor is used, and labor is the only factor of production used by the firm,
    9·1 answer
  • The seeking sustainability box shows us that consumer relationship building can mean many different things. in this case, campbe
    6·1 answer
  • Which of the following combinations of monetary and fiscal policies would have the GREATEST effect on fighting inflation?
    9·1 answer
  • Suppose physical capital per worker increased to $60,000 between 1990 and 2000, and output per worker increased by $45,000 over
    10·1 answer
  • A variable is a data characteristic that stands for a value that changes or varies over Blank______. Multiple choice question. b
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!