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Flauer [41]
3 years ago
5

Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $10,600. On September 9, the custo

mer unexpectedly pays the $10,600 balance. Record the cash collection on September 9
Business
1 answer:
notka56 [123]3 years ago
8 0

Answer:

1. Debit Accounts recievable $10,600

Credit Allowance for uncollectable amounts $10,600.

2. Debit Cash $10,600

Credit Accounts receivable $10,600

Explanation:

Preparation of the journal entries to Record the cash collection on September 9.

Based on the information given the appropriate journal entries to Record the cash collection on September 9 will be:

September 9

1. Debit Accounts recievable $10,600

Credit Allowance for uncollectable amounts $10,600

2. Debit Cash $10,600

Credit Accounts receivable $10,600

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Brown Co. pays weekly salaries of $10,500 on Friday for a five-day work week ending on that day. Assuming the end of the account
algol [13]

Answer:

Explanation:

The adjusting entry is shown below:

Wages Expense A/c Dr $6,300

     To Wages payable A/c $6,300

(Being the wages are adjusted)

The computation is shown below:

= Five days salaries ÷ number of days in a week × given days

= $10,500 ÷ 5 days × 3 days

= $6,300

So, the wages expense is debited for $6,300 and wages payable is credited for $6,300

4 0
4 years ago
The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.8 hours
Sloan [31]

Answer:

the labor efficiency variance for the month is $23,256 Favorable.

Explanation:

Labor efficiency variance = (Aq × SP) - (Sq × Sp)

                                          =  (7,600 × $13.60) - ((950 × 9.8) × $13.60)

                                          =  (7,600 × $13.60) - (9.310 × $13.60)

                                          = $23,256 Favorable

4 0
4 years ago
The following purchase transactions occurred during August for Elegance Catering Service: Aug. 4 Purchased cleaning supplies for
PtichkaEL [24]

Answer:

                                                      Debit                     Credit

Aug 4   Cleaning Supplies                79

            Accounts payable                                               79

            (Innovation Supplies)  

Aug 19   Office Equipment                 4900

             Accounts Payable                                         4900

            (Office Warehouse)

Aug 23    Cleaning Supplies               209

                Accounts Payable                                    209

                 ( Rubble Supplies)

Explanation:

3 0
3 years ago
Organizations can use common core security principles recommended as industry best practices when developing policies, standards
egoroff_w [7]

Answer:

Timeliness principle.

Explanation:

Industry best practices can be used by various organizations as common core security principles to manage and control most, if not all of their assets and resources. These security principles can be adopted during the process of developing organizational policies, standards, baselines, procedures, and guidelines to effectively and efficiently manage the organization.

Timeliness principle can be defined as a principle which states that all stakeholders involved in the securitization of an organization and assets must act in a timely manner for the constant monitoring of the current and future state of the organization's assets, so as to avoid the integrity of its security being breached or compromised.

Hence, the principle which typically specifies that all personnel, assigned agents, and third-party providers should act in a timely manner to prevent and to respond to security breaches is known as the timeliness principle.

4 0
3 years ago
Renting provides _________ flexibility but can lead to _________ costs in the long-term
xxMikexx [17]
Greater higher!!!!!!!!!!!!!
6 0
3 years ago
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