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OLga [1]
3 years ago
11

The Allowance for Bad Debts account has a credit balance of $ 5 comma 000$5,000 before the adjusting entry for bad debts expense

. Theâ company's management estimates that 22â% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $ 260 comma 000$260,000. What will be the balance of Allowance for Bad Debts on the Decemberâ 31, 2019 balanceâ sheet?
Business
2 answers:
lorasvet [3.4K]3 years ago
5 0

Answer:

62,200

Explanation:

The Allowance for Bad Debts account has a credit balance of $5,000 before the adjusting entry for bad debts expense. The company's management estimates that 22% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $260,000. The balance of Allowance for Bad Debts on the December 31, 2019 balance sheet would be 62,200.

GaryK [48]3 years ago
4 0

Answer:

62,200 allowance ending

Explanation:

allownce 5,000 credit

<u>Because the bad debt is calculate over the sales,</u> the bad debt expense is the result of that estimated, without considering the beginning balance of the allowance.

22% of net credit sales will be uncollectible:

260,000 x 22% = 57,200

<u>Now ending balance will be beginning + uncollectible for the period</u>

5,000 beginning

57,200 uncollectible for the period

62,200 allowance ending

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ASAP 65 points.
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Answer:

Ebay

Explanation:

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You're welcome.

5 0
3 years ago
Local health codes establish requirements for all of the following subjects EXCEPT:
DanielleElmas [232]

Explanation:

sale of unfit food items

3 0
3 years ago
Leslie, the owner of a shoe store, purchased 500 Model XT-50 running shoes from her supplier, but a price was not stated in the
SIZIF [17.4K]

Answer:

False

Explanation:

The contract is not voidable at Leslie's option but rather at the supplier's option. This is because Leslie has agreed to the buy the shoes, irrespective of the price.

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Cheers

3 0
3 years ago
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spin [16.1K]

Check the TEC, ensure that a valid DA Form 1687 is on file for the unit,

screen the Overdue Document list tasks does the stock control specialist perform before the unit arrives at the asp.

<h3>What are ASP personnel responsible for?</h3>

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They inspect boxes and containers and calculate quantity based on brass weight.

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brainly.com/question/24607535

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6 0
2 years ago
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Marrrta [24]

Answer:

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