Answer:
$870
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Allowance for uncollectible accounts at 5%
= 5% * $302,000
= $1,510
Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year
= $1,510 - $640
= $870
The part of the business cycle given that shows a period of contraction is <u>Point B. </u>
<h3>Why does point B show contraction?</h3>
When the economy is in a period of contraction, the business cycle would show a fall from the peak to the trough.
The peak is point A and the trough is Point C. Point B shows the fall from A to C which means that Point B must be the contraction.
In conclusion, option B is correct.
Find out more on the business cycle at brainly.com/question/26086110.
Answer:
Explanation:
The journal entries are shown below:
1. Petty cash A/c Dr $264.2
To Cash A/c $264.2
(Being petty cash fund established)
2. Freight - in expense A/c Dr $75
Supplies expense A/c Dr $40
Postage expense A/c Dr $48
Loan to employees A/c Dr $32
Miscellaneous expense A/c Dr $51
Cash over and short A/c Dr $2.9
To Cash A/c Dr $248.9 ($264.2 - $15.3)
(Being disbursement of cash recorded)
3. Petty Cash A/c Dr $115
To Cash A/c $115
(Being increase in petty cash recorded)
Direct channel is typically used between a supplier and manufacturer of industrial products.
A supplier is a person, company, or entity that provides products or services to another entity. For example, a laptop manufacturer or a company that sells her PCBA to his OEM is an example of a supplier.
Supply In his chain, a provider or seller is a company that provides goods or services. Generally, supply chain providers manufacture inventory/stock items and sell them to the next link in the chain. Today, these terms refer to providers of goods or services.
In business, a supplier is a person or entity that sells quality services and goods at a reasonable cost from manufacturers to retailers or distributors.
Learn more about supplier here:brainly.com/question/26500183
#SPJ4
Answer: The mission of a company is to make grow and make sales! A mission statement is a short statement of why an organization exists, what its overall goal is, identifying the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.
Explanation: I used google and quizlet to find my answers!
