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Komok [63]
3 years ago
5

Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry

Required" in the first account field.)
At the end of June, bad debt expense is estimated to be $12,800.
In July, customer balances are written off in the amount of $6,400.

1) Record the estimated bad debt expense of $12,800.2) Record the customer balances written off in the amount of $6,400.
Business
1 answer:
AysviL [449]3 years ago
7 0

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

(1). Jun.30   Bad Debt expense A/c Dr $12,800

                   To Allowance for Doubtful A/c $12,800

                    (Being the bad debt expense is recorded)

(2). July       Allowance for Doubtful A/c Dr $6,400

                   To Accounts Receivable A/c $6,400

                    (Being the customer balance written off is recorded)

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Margot has fallen in love with a three-bedroom, 2,500-square-foot property in her friend’s neighborhood. It’s listed for $400,00
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Answer:

subsititution

Explanation:

Since in the situation it is mentioned that margot has fallen with 3 set bedroom i.e. 2500 square foot and its amount is $400,000. Now there is another three set bedroom of 2,400 square foot and its amount is $350,000 so here two options are given and according to the price he opted for the second property

So out of two choices he should opt for one that means it is a subsititution economic principle

5 0
3 years ago
Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,500. Budgeted cash rec
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Answer:

$12,500

Explanation:

Budgeted cash receipts refer to the money that the company expects to receive in a specific period of time.

Budgeted cash disbursements are the payments that the company expects to make in a specific period of time.

$19,500+190,500-191,000= 19,000

Then, you have to subtract 19,000 from 31,500 to determine the amount that the company needs to attain its desired ending cash balance:

31,500-19,000= 12,500

According to this, the company should borrow $12,500.

4 0
3 years ago
When determining the value of raw land, there is a relatively fixed amount of _________; therefore, the value of land is primari
Ilya [14]
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7 0
2 years ago
A summary of the time tickets for the current month follows:
tester [92]

Answer and Explanation:

The journal entry to record the factory labor cost is shown below:

Work in progress  ($2,060 + $1,710 + $3,130 + $3,520 + $2,150 + $1,410 + $9,540) $23,520

Factory Overhead $10,980

         To wages payable  $34,500

(to record the factory labor cost)

Here work in process and factory overhead is debited as it increased the assets and expenses and credited the wages payable as it also increased the liabilities  

8 0
3 years ago
Joan Osborne is evaluating a potential capital investment. She has calculated the net present value using a minimum rate of retu
antoniya [11.8K]

Answer:

The investment of Joan Osborne is expected to produce a rate of return less that 10%.

Explanation:

This implies that the expected rate of return on the investment will the minimum rate of return.

An investment with a positive NPV would produce produce  an expected rate of return higher than the minimum rate of return and vice versa.

The investment of Joan Osborne is expected to produce a rate of return less that 10%.

5 0
3 years ago
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