Answer: Please see the required journals below:
December 31:
Debit Bad debt expense $6,034
Credit Allowance for doubtful accounts $6,034
February 1:
Debit Allowance for doubtful accounts $431
Credit Accounts receivables $431
June 5:
Debit Cash $431
Credit Bad debt recovery (income statement) $431
Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.
Answer:
The correct answer is letter "A": Developing human capital.
Explanation:
Developing human capital implies training existing employees of the company so they can specialize in their every-day duties which is likely to be positively reflected in their efficiency at work, increasing at the same time the productivity of the organization.
Answer:
87.50%
Explanation:
The calculation of value of Zook's currency will decrease in percentage is shown below:-
For computing the Percentage decrease first we need to find out the value of money which is shown below:-
Value of money = 1 ÷ Price level
= 1 ÷ 8.00
= 0.125
Percentage decrease = (Value of money - 1) ÷ 1 × 100%
= (0.125 - 1) ÷ 1 × 100%
= -0.875 ÷ 1 × 100%
= 87.50%
Answer:
false
Explanation:
Market segmentation entails dividing target customers into smaller groupings based on their common shared traits. Segmentation places customers into small manageable groups with similar characteristics such as age, gender, interest, occupation, and geographical location. Customers in the same segment are highly likely to respond uniformly to marketing strategies.
Segmentation enables a business to carry out details research concerning each group. It then offers specific products based on the needs of each target segment.
Answer:
Explanation:
Any goal it's your opinion to be a successful person. Just never give then you will get it.
