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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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The weekly incomes of shift foreman for a given industry follow a normal probability distribution. With a mean of $1,000 and a s
mylen [45]

Answer:

There is a 0.2419% for a foreman to earn either $1,100 or $900

Explanation:

We calculate the probability of a normal distribution of 0;1

(X-mean)/deviation = Z

(1,100 - 1,000)/100 = 100/100 = 1

900 - 1,00/100 = -100/100 = -1

Given the zame Z value, we have the same probability of a foreman to earn 1,100 or 900

As we are asked for the foreman salary, wewill calcualte the Z for non cumulative, just the probability of a foreman to earn 1,100 or 900 dollars.

We look into the normal distribution table for the value of z = -1 or 1

0.002419707  = 0.2419%

4 0
3 years ago
In the long run, profits in a monopolistically competitive market are zero because: a. of government regulations. b. of collusio
zvonat [6]

Answer:

c. firms are free to enter and exit the market.

Explanation:

A monopolistically competitive market is a market in which there are a lot of organizations that sell products that are similar and it tends to be easy to enter and leave the industry. Because it is easy for a company to enter the market and there is a lot of competition, in the long run the economic profit is zero. According to this, the answer is that in the long run, profits in a monopolistically competitive market are zero because firms are free to enter and exit the market.

The other options are not right because a monopolistically competitive market has zero profits because of its low entry barriers and amount of competitors not because of government regulations or an illegal agreement between organizations to control competition. Also, in a monopolistically competitive market the products are similar.

6 0
3 years ago
A highly ethical organization must have all the following elements except Multiple Choice corporate credos. role models. payment
givi [52]

Answer:

The correct answer is letter "C": payment plans.

Explanation:

<em>Highly ethical organizations</em> are those with a well-established <em>Code of Ethics </em>that comprises its <em>corporate credos and values.</em> Within a company, the idea of having "<em>heroes</em>" also helps to spread good practices since they are taken as <em>role models </em>so other employees tend to follow their example. Managers must be aware of the ethical behavior of employees to correct or eliminate any existing threat.

Thus, <em>having different payment plans are not considered in the setting of a corporation's Code of Ethics. </em>

7 0
3 years ago
What is the main motive behind dealer incentives?
lbvjy [14]
The main motive behind dealer incentives is to give the dealers a low price for stocking the companies products. The company that gives the biggest dealer incentive will attract more dealers to actively sell the product of that company. It can be seen in case of cars, the incentives given by the manufacturers to their dealers for stocking the cars.
3 0
3 years ago
Which of the following marketing budgets is based on marketing tasks? A. Bottom-up B. Customer-mix C. Percent-of-sales D. Top-do
Hunter-Best [27]
<h2><u>Answer:</u></h2>

The correct option is A (Bottom-Up)

<h3><u>Explanation:</u></h3>

As indicated by Theoretical Synthesis, "when an upgrade is displayed short and lucidity is unsure that gives an ambiguous boost, discernment turns into a best down methodology." Conversely, brain research characterizes base up handling as a methodology wherein there is a movement from the individual components to the entirety.  

Bottom Up Strategic Management. With a best down key methodology, the official group of the business sets up plans and objectives, and afterward imparts that system to center supervisors, who at that point move toward becoming entrusted with executing that procedure through general population representatives.

8 0
3 years ago
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