1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mila [183]
4 years ago
5

Kennedy Company uses the balance sheet approach in estimating uncollectible accounts expense. The company prepares an adjusting

entry to recognize this expense at the end of each month. During the month of July, the company wrote-off a $5,200 receivable and made no recoveries of previous write-offs. Following the adjusting entry for July, the credit balance in the Allowance for Doubtful Accounts was $4,300 larger than it was on July 1. What amount of uncollectible account expense was recorded for July?
Business
1 answer:
s2008m [1.1K]4 years ago
3 0

Answer:

The amount of uncollectible account expense was recorded for July was $9,500

Explanation:

According to the given data we have the following:

Accounts written off amount=$5,200

Increase in Allowance for Doubtful Accounts=$4,300

Therefore, in order to calculate the  amount of uncollectible account expense was recorded for July we would have to make the following calculation:

Uncollectible accounts expense for July= Accounts written off+ Increase in Allowance for Doubtful Accounts

Uncollectible accounts expense for July= $5,200+$4,300

Uncollectible accounts expense for July=$9,500

The amount of uncollectible account expense was recorded for July was $9,500

You might be interested in
Which statement is consistent with the law of demand?
Marianna [84]

Answer: B. A reduction in market price will lead to an increase in quantity demanded.

The law of demand states that normal goods have a higher demand at lower prices, because the demand curve is downward sloping which means that the lower the price the more of it people will be willing to buy, so a reduction in market price will mean that now more people are willing to buy that good. For eg a car normally sells $80,000 and 1000 cars are sold in a month, because of technological advances the company now sells the car for $60,000 because of this decrease in price more people will be willing to buy the car and the the monthly sales will be more than a 1,000 cars because at the price of $60,000 more people will be willing to buy this car.

Explanation:

5 0
3 years ago
5. Consider the supply chain involved when a customer orders a book from Amazon. Identify the
emmainna [20.7K]

Answer:

1. At pull stage Customers request for books. A pull system by Amazon was made through the use of ingram book group. They support booksellers in supply and demand of book buyers

2. The push strategy is made through the development of several warehouses. Procurement of inventory is done and peoples orders are sent out by utilizing pull strategy.

Processes in pull strategy:

1. Shipping

2. Order fulfilment

Processes in push strategy:

1. Stock replenishment

2. Production

6 0
3 years ago
Who must make the determination to cancel an invitation for bids after bid opening?a.Contracting officerb.Chief of the contracti
Lesechka [4]

Answer:

c.Head of the contracting activity

Explanation:

6 0
3 years ago
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the fol
masha68 [24]

Answer: purchase foreign currency in order to purchase a U.S. treasury bond.

Explanation:

Currency convertibility has to do with the degree in which the domestic currency of a particular country can be converted into the currency of another country.

Therefore, a citizen in a developing country with a currency policy of convertibility on the current account could engage in the purchase foreign currency in order to purchase a U.S. treasury bond.

3 0
3 years ago
The postmaster of a small western town receives a certain number of complaints each day about mail delivery. DAY 1 2 3 4 5 6 7 8
kari74 [83]

Answer:

The mean of the data is: 7.857

b) Yes the process is in control since all values in data set lie between the UCL and LCL.

Explanation:

Find attached the solution

3 0
3 years ago
Other questions:
  • A company purchased new machinery and incurred freight, assembly, and installation costs in addition to the invoice cost of the
    5·1 answer
  • Alpha Colony and Beta Colony both manufacture textiles and technology. Alpha Colony always produces higher quality textiles and
    13·1 answer
  • Does anyone know what a good college would be to go to,for a vetanarian degree? and how many years does it take to become one?
    7·1 answer
  • McLaughlin borrowed her roommate's car just to take her mother to the hospital. While delivering her mother at the hospital, McL
    7·1 answer
  • WoodCore Inc. produces an entire line of office furniture at its manufacturing facility in the United States and then ships its
    6·1 answer
  • The cost of renting a room at a hotel is, say $100.00 per night. For special occasions, such as a wedding or conference, the hot
    12·1 answer
  • For customers purchasing a refrigerator at a certain appliancestore, let A be the event that the refrigerator wasmanufactured in
    14·1 answer
  • The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i
    14·1 answer
  • How has globalization made countries more independent
    14·2 answers
  • Ann Jones uses a dry-cleaning machine in her business, and it was partially destroyed by firE. At the time of the fire, the adju
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!