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
Zina [86]
3 years ago
10

Journalize the following transactions using the allowance method of accounting for uncollectible receivables.April 1 Sold mercha

ndise on account to Jim Dobbs, $7,200. The cost of the merchandise is $5,400.June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.9. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of the merchandise is $5,400.June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.Oct. 11 Reinstated the account of Jim Dobbs for and received cash in full payment.10. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables:Feb 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of $4,000 as uncollectible.May 10 Reinstated the account of Andrew Warren and received $4,000 cash in full payment.
Business
1 answer:
sergejj [24]3 years ago
7 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
You might be interested in
Shauna wants to buy a house and plans to rent the apartment located in the basement for extra income. The house has a purchase p
Anastaziya [24]

Answer:

B. $700

Explanation:

I took the quiz

8 0
3 years ago
Juxipi Inc. is well known for having a stronger credit score than its competitors. that is why, buyers are more willing to buy p
rewona [7]

Answer:

d. Commercial paper

Explanation:

-Short-term bank loans is a loan that has to be paid back in a year.

-Factoring is when a company sells its accounts receivable to another company at a cheaper price.

-Trade credit is a credit that a supplier gives to its clients to make the payments later.

-Commercial paper is a promissory note used by companies to get money to cover short-term liabilities and has a period of time of up to a year.  

According to this, the answer us that the short-term financing option that is being offered by Juxipi Inc. in the given scenario is commercial paper.

4 0
4 years ago
which feature should be used prior to finalizing a presentation to ensure that the audience members with disabilities will be ab
Korvikt [17]

Answer:

B: Accessibility Checker

Explanation:

4 0
3 years ago
In a free-market economy, a product that entails a negative externality (additional social cost) will be
Sveta_85 [38]

In a free-market economy, a product that entails a negative externality (additional social cost) will be underproduced. A free-market economy is when the government has little or no restrictions and regulations on buyers and sellers in the market. They are essentially 'free' of all control and can base their inputs and outputs off of supply and demand. If there is a negative externality, then there too few items being produced in the economy.

5 0
4 years ago
X Company must purchase a new delivery truck and is using the payback method to evaluate two possible trucks. Truck 1 costs $31,
Lady_Fox [76]

Answer:

C: 4

Explanation:

The computation of the payback period is shown below:

Incremental investment in truck 2 is

= $44,000 - $31,000

= $13,000

Now

Year        Cash saving in cost    Cumulative

1                   -$1,000                    -$1,000

2                  $4,000                      $3,000

3                  $5,000                      $8,000

4                 $5,000                       $13,000

5                  $3,000                      $16,000

6                 $3,000                       $19,000

7                 $2,000                        $21,000

7 0
3 years ago
Other questions:
  • In 1973 Arab countries imposed an oil embargo on the United States and other developed countries in the aftermath of the Yom Kip
    12·1 answer
  • The price of a house in Year 1 was​ $50,000. If the Consumer Price Index is 101 for Year 1 and 202 for Year​ 2, the value of the
    10·1 answer
  • Janis is in charge of marketing for a department store sale. During previous sales, she has had success using only radio adverti
    10·1 answer
  • Which of the following is NOT a primary goal of competitive marketing​ intelligence? A. Providing early warnings of opportunitie
    5·1 answer
  • Petro Refining Corporation makes payments to potential customers, suppliers, and others with whom they might do business, includ
    6·1 answer
  • John sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep
    7·1 answer
  • Started businesse with cash rs 5000 and bank balance rs 10000​
    14·1 answer
  • A $64,000 machine with a 6-year class life was purchased 2 years ago. The machine will now be sold for $50,000 and replaced with
    15·1 answer
  • The eight wastes of traditional operations include all of the following except Question content area bottom Part 1 A. defects. B
    9·1 answer
  • the cumulative difference between reporting inventory at lifo rather than fifo is commonly referred to as the
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!