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Elina [12.6K]
2 years ago
10

Swifty Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $35500. During 2020, it wrote off $23000 of ac

counts and collected $8000 on accounts previously written off. The balance in Accounts Receivable was $780000 at 1/1 and $960000 at 12/31. At 12/31/20, Swifty estimates that 5% of accounts receivable will prove to be uncollectible. What should Swifty report as its Allowance for Doubtful Accounts at 12/31/20
Business
1 answer:
JulsSmile [24]2 years ago
4 0

Answer:

$48,000

Explanation:

<em>What should Swifty report as its Allowance for Doubtful Accounts at 12/31/20?</em>

<em />

Allowance for Doubtful Accounts 12/31/20 = Accounts receivable at 12/31 * Uncollectible percentage of Accounts receivable

Allowance for Doubtful Accounts 12/31/20 = $960,000 * 5%

Allowance for Doubtful Accounts 12/31/20 = $48,000

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Tanya [424]

This type of agreement is a violation of the Sherman Act.

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To learn more about Sherman Act: brainly.com/question/2119756

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7 0
11 months ago
The​ full-employment level of employment​ is: A. the level of employment when aggregate demand is equal to​ short-run aggregate
natita [175]

Answer:

The correct answer is letter "C": the equilibrium level of employment reached after all wages and prices have fully adjusted.

Explanation:

Full Employment is a situation in which all available human resources are utilized at their highest degree. Each worker is in a job where that worker has his or her more productive use and benefit to the aggregate economy. Full employment is usually achieved in a robust economy when employment reaches its equilibrium point after wages and price adjustments, but can potentially be achieved in any economy.

5 0
3 years ago
A business will want to borrow to undertake an investment project when the rate of return on that project is:
pychu [463]

Answer:

B) higher than the interest rate.

Explanation:

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Hence, the option b is correct

3 0
2 years ago
On September 30, Year 1, Payne, Inc. exchanged some of its shares for all of the common stock of Salem, Inc. in a business combi
MrRissso [65]

Answer:

Payne should exclude Salem's January 1, Year 1, Retained Earnings and income for January 1 to September 30 from consolidated Retained Earnings and consolidated income

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The Retained Earnings of Salem on January 1, Year 1 and and its income during the period between January 1 and September 30 would not be included in the Year 1  consolidated financial statements.

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6 0
3 years ago
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mina [271]

Answer:

d. Transactions exposure.

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Transactions exposure -

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Hence from the information of the question , the correct answer is  d. Transactions exposure .

5 0
3 years ago
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