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Ilya [14]
3 years ago
7

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2

,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:________
A. Accounts Receivable-A. Hopkins 2,000
Allowance for Doubtful Accounts 2,000
Cash
Accounts Receivable-A. Hopkins 2,000
B. Cash 2.000
Bad debts expense 2,000
C. Accounts Receivable-A. Hopkins
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins
D. Accounts Receivable-A. Hopkins 2,000
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins 2,000
E. Allowance for Doubtful Accounts 2,000
Accounts Receivable-A. Hopkinse 2,000
Accounts Receivable-A. Hopkins 2,000
Cash 2,000
F. Cash 2,000
Accounts Receivable-A. Hopkins 2,000
Business
1 answer:
deff fn [24]3 years ago
8 0

Answer:

A. Accounts Receivable-A. Hopkins 2,000

Allowance for Doubtful Accounts 2,000

Cash

Accounts Receivable-A. Hopkins 2,000

B. Cash 2.000

Explanation:

Based on the information given if July 10, Gideon received a check for the full amount of $2,000 from Hopkins which means that On July 10, the entry or entries that Gideon makes to record the recovery of the bad debt is:

Accounts Receivable 2,000

Allowance for Doubtful Accounts 2,000

To receive cash

Cash 2,000

Accounts Receivable 2000

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Answer:

Profit Function = (300 x king size bed) + (150 x queen size bed)

Explanation:

Objective Function is the function which needs to be optimised , i.e maximised or minimised. The function shows the objective variable as a dependent variable, determined by independent / explanatory variable(s).

Given Case : The manager would tend to maximise profit function.

Total Profit = Per unit profit x quantity

So, Profit Function: by per unit profit & sale quantities :

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This profit objective function would be maximised, to find the profit maximising sale quantities of king & queen size beds.

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Zale wants to determine how his stock portfolio is doing compared to the overall market. What should he do? A. compare his stock
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Martinez Company issued $600,000 of 10%, 20-year bonds on January 1, 2014, at 102. Interest is payable semiannually on July 1 an
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Answer:

The correct asnwer is : Journal entries

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Cash: 600k6/1210%  = 30,000

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Interest Expense 29,897.73

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Interest expense: (612k-102.27)6/12.097705=29,892.73

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