Answer:
Pension expense$ 10
Explanation:
($ in millions)
Service cost $10
Interest cost $4
Expected return on the plan assets(6)
Amortization of prior service cost 2
Amortization of net loss (gain) 0
Pension expense$ 10
Therefore the total pension cost for the year is $10,000,000
Amortization of prior service cost $20 ÷10 years = $2
I believe you answer would be
adventure travel
Each party has legal obligations in the agreement/contract, and which they connectedly exchanged of value whether it was a product, service, money, etcetera.
Answer:
$3,553
Explanation:
Credit losses = Net credit sales × Historical percentage of credit losses
= $131,750 × 3%
= $3,953
Allowance for doubtful account has a credit balance of $400
The estimated bad debt expense can therefore be calculated as:
Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance
= $3,953 - $400
= $3,553
Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553
