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bekas [8.4K]
2 years ago
12

Davidson has the following transactions during​ January: Credit sales of​ $150,000, collections of credit sales of​ $83,000, and

​ write-offs of​ $20,000. Davidson uses the direct​ write-off method. The amount of Bad Debts Expense for January is​ ________.
Business
1 answer:
Andrews [41]2 years ago
7 0

Answer:

$20,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

However, in the direct writeoff method, estimates of uncollectible receivables are posted directly into the accounts receivable and not into the allowance account.

The amount in the accounts receivable before write off

= $150,000 - $83,000

= $67,000

Amount written of is $20,000, this will be posted as a debit to bad debt expense and a credit to accounts receivable.

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Answer:

At what price is revenue maximum?

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Write your conclusions in a sentence.

  • When the price is higher than $12 per unit, demand is elastic, which means any decrease in price will result in a larger proportional increase in quantity demanded. This in turn increases total revenue. Below $12 per unit, demand is inelastic, which means that a decrease in price will result in a smaller increase in quantity demanded.

Explanation:

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$20                            5000               $100000

$19                            6000               $114000

$18                      7000                 $126000

$17                      8000                 $136000

$16                      9000               $144000

$15                      10000               $150000

$14                      11000               $154000

<u>$13                      12000               $156000 </u>

<u>$12                      13000               $156000 </u>

$11                             14000               $154000

$10                      15000               $150000

$9                      16000               $144000

$8                      17000               $136000

$7                      18000               $126000

$6                      19000               $114000

$5                      20000       $100000

$4                       21000        $84000

3                       22000        $66000

2                       23000        $46000

1                       24000        $24000

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From this idea of ​​10,000 hours of practice, a level of knowledge acquired is possible based on a scale of magnitude of 10 hours, in an approximate way:

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