Answer:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
Explanation:
Calculation for estimated bad debts expense:
Explanation
Accounts receivable * Sales uncollectible
$445,000×0.025
=11,125
Hence:
11,125 +Allowance for Doubtful Accounts 1,350
=$12,475
Therefore the estimated bad debt will be:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
Answer:
The purpose of creating teams is to provide a framework that will increase the ability of employees to participate in planning, problem-solving, and decision-making to better serve customers. Increased participation promotes: A better understanding of decisions.
clearing checks
acting as government fiscal agent
supervising members bankers
regulate money supply
supply paper currency
setting reserve requirements