Answer: The correct answer is b. debit to Bad Debts Expense for $1,800.
Explanation: The company adopts the aging bad debt method on receivable. The aging method is a way of classifying receivables as uncollectible based on the length of time the receivables have been outstanding and the probability of recoverability of such receivables.
To make a provision for bad debt expense: debit is passed to bad debt expense while credit is passed to allowance for doubtful accounts. The bad debt expense reports to the income statement while allowance for doubtful accounts reports to the balance sheet (statement of financial position). Based on the question, the allowance for doubtful accounts has a credit balance of $1,200; however, $3,000 was estimated to be uncollectible. In order to restate the amount to $3,000, we need to debit bad debt expense and credit allowance for doubtful accounts with $1,800 ($3,000 - $1,200).
I would say that it would simply be a businessman's interest group or an association such as the Association of Mineral Exploration in the province of British Columbia, Canada that is an advocacy group for the businessmen to ensure they get the ear of the provincial government and so they can be a lobby group too.
Answer:
Yes Please
Explanation:
So I can get more help in school since I'm failing.
It's 16.282. ok I don't think for sure though
Answer:
Explanation:
The formula to be used in calculation is FV = PV*(1+I)^n
FV - Future value at the end of periods
PV - Present value
r - interest rate
n - number of years
a. The amount due f the loan is repaid at the end of year 1
FV = 200*(1+0.14)^1 = 200*0.14 = $228
b. Repayment at the end of year 4
FV = 200*(1+0.14)^4 = 200* 1.6889 = $337.79
c. The amount due at the end of 8 year
FV = 200*(1+0.14)^8 = 200* 2.85 = $570.51
