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katovenus [111]
3 years ago
9

A company has $104,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts

. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $940 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
Business
1 answer:
SpyIntel [72]3 years ago
6 0

Answer:

$4,260

Explanation:

The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense is given below:

Estimated Uncollectible Accounts is

= $104,000 × 5%

= $5,200

Now  

Bad debt expense is

= Estimated Uncollectible accounts - credit balance in Allowance account

= $5,200 - $940

= $4,260

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Molodets [167]

Answer:

c.

Explanation:

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8 0
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A(n) ________ makes values from a central database available for applications that support all of an organization's internal bus
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A(n) enterprise resource planning system makes values from a central database available for applications that support all of an organization's internal business activities.

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8 0
1 year ago
Which of these statements explains the term price?
Sonja [21]
C is the correct answer

4 0
3 years ago
IBN has two manufacturing facilities, one in New York and one in Oklahoma. Marjorie has worked in the Oklahoma plant for 15 year
gtnhenbr [62]

Answer:

Yes, there is a violation of the Equal Pay Act because Hank's salary ($14 per hour) is higher than Marjorie's ($12 per hour).

Explanation:

The Equal Pay Act of 1963 basically establishes that no employer can pay a higher salary to an employee of one sex and pay a lower salary to an employee of the opposite sex. Theoretically this law protects both women and men, since the provision doesn't establish a specific sex that is protected.

In this case, it is OK for Ellen to earn a higher salary than Hank because she has more experience and she was transferred to the New York facility. But Hank shouldn't earn a higher salary than Marjorie because she is a more experienced worker.

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3 0
3 years ago
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solong [7]

Answer:

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6 0
2 years ago
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