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
lilavasa [31]
3 years ago
10

Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal

es were $34,000. One account for $500 was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. What is the balance of accounts receivable at the end of the first year?
Business
1 answer:
Igoryamba3 years ago
5 0

Answer: $1000

Explanation:

First, we calculate the amount if bad debt expense which will be:

= 3% × $50000

= $1500

Therefore, the balance of accounts receivable at the end of the first year will be:

= Amount of bad debts expense - Account written off

= $1500 - $500

= $1000

You might be interested in
The cost method that will yield the highest taxable income during times of inflation is the a.weighted average inventory cost me
vichka [17]

Answer:

The answer is B.

Explanation:

FIFO inventory cost method will yield the highest taxable income during times of inflation or period of rising price.

FIFO is First in First out i.e the inventory that was purchase first will go out first. This method reflects the current market price because last inventories bought during inflation are part of the ending inventories. Ending inventories are high, cost of sales are low and gross profit is high.

Because gross profit is high, high tax will be charged

8 0
3 years ago
For advertising strategies to be effective, they must work within the confines of the overall marketing strategy. T/F
dedylja [7]

Answer:

The correct answer is True.

Explanation:

A marketing strategy helps to create products and services with the best possibilities of obtaining benefits. This is because the marketing strategy begins with market research, taking into account the optimal target customer, what the competition is doing and what trends could be on the horizon.

Using this information, determine the benefit customers want, what they are willing to pay and how you can differentiate the product or service from the competition.

8 0
3 years ago
You are most concerned for the infant who has
Gelneren [198K]
A i think, did btec childcare
8 0
3 years ago
Which of the following condition will both consumers and sellers benefit?
victus00 [196]
Answer: Option C) When supply equals demand.

The most common supply curve decreases with price. The most common demand curve increases with price. The point at which supply and demand curves intercept each other is the equilibrium point. At that point (equilibrium), there are consumers who are paying less than what they are willing to pay (generating a consumer surplus) and there are producers who are selling at a price that is higher than what they are willing to receive (generating a producer surplus), then both consumer and producers benefit.
5 0
3 years ago
In one paragraph highlight the characteristics of an entrepreneur​
DIA [1.3K]

Answer:

Im not going to type a whole paragraph but ill give you some ideas.

Explanation:

An entrepreneur​ is someone who does many things like owning a buisness or having many hobbies .

7 0
3 years ago
Read 2 more answers
Other questions:
  • How can you lower rish when it comes to investing?
    12·2 answers
  • Describe two types of organizational documents that can help you organize a job search. What is the purpose of each document? ne
    6·1 answer
  • William pays his $500 premium every 6 months for automobile insurance with collision coverage. His deductible is $750. William c
    10·1 answer
  • Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of
    7·1 answer
  • Marsha Bogswell is the sole stockholder of Bogswell Legal Services.
    6·1 answer
  • At the intersection of the short-run aggregate supply curve, the aggregate demand curve, and the long-run aggregate supply curve
    7·1 answer
  • Calvin is a college student who has identified the need his fellow students have for transportation to and from a nearby store.
    10·1 answer
  • Let’s assume that the total possible number of job evaluation points is 875 rather than 1,000. Based on the following weighting
    5·1 answer
  • The entry to record the amortization of a premium on bonds payable on an interest payment date would Group of answer choices a d
    7·1 answer
  • a type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!