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3 years ago

Percent of Sales Method

Business

1 answer:

Greeley [361]3 years ago

7 0

Answer:

a. Amount of bad debts = Sales * (Bad debts %) = $51,850,000 * 0.25% = $129,625. Thus, the amount of the adjusting entry for uncollectible accounts is $129,625.

b. The adjusted balances are as follow

Accounts Receivable $2,150,000

Allowance for Doubtful Accounts $119,125 (129,625 - 10,500)

Bad Debt Expense $129,625

c. Net realizable value of accounts receivable = Balance of accounts receivables - Allowance for Doubtful Accounts

Net realizable value of accounts receivable = $2,150,000 - $119,125

Net realizable value of accounts receivable = $2,030,875

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Fiesta28 [93]

Answer:

Design

Explanation:

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4 years ago

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3 years ago

Lois, a single taxpayer, contributed $1,200 to her traditional IRA in 2019. If she received a $240 saver’s credit and was not an

-Dominant- [34]

Answer:

$960

Explanation:

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4 years ago

When Bill is alone with Sally, he apologizes by saying, "I'm sorry about getting angry yesterday. I should have informed you soo

Debora [2.8K]

Answer:

<u><em>Remedy</em></u>

Explanation:

This question comes with these answer choices:

a. remedy.

b. rumination.

c. responsibility.

d. regret.

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Saying sorry is not enough in most cases. The apology should include efforts to remedy or reduce the harm caused. Some kind of compensation.

Bill should find out what consequences his action had on Sally, and thus try to compensate in a way that the negative consequences are eliminated or minimized: is it necessary to replace something?, is it necessary to pay for monetary loss?, are feelings hurt, so that you need to change your behavior to remediate the situation?

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4 years ago

what are the positives and negatives of starting your career planning now while still in middle school?

andrey2020 [161]

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I hope i helped :)

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3 years ago