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
motikmotik
4 years ago
15

Assume the following unadjusted account balances at the end of the accounting period for Emmie Company: Accounts Receivable, $30

0,000; Allowance for Doubtful Accounts, $4,200 (debit balance); and Net sales, $3,600,000. If Emmie’s past experience indicates credit losses of 1% of net sales, the adjusting entry to estimate doubtful accounts is: Select one: A. Bad Debts Expense 36,000 Allowance for Doubtful Accounts 36,000 B. Bad Debts Expense 36,000 Accounts Receivable 36,000 C. Bad Debts Expense 31,800 Allowance for Doubtful Accounts 31,800 D. Bad Debts Expense 40,200 Allowance for Doubtful Accounts 40,200
Business
1 answer:
Kay [80]4 years ago
7 0

Answer:

Option (A) is correct.

Explanation:

Given that,

Accounts Receivable = $300,000

Allowance for Doubtful Accounts = $4,200 (debit balance)

Net sales = $3,600,000

The Adjusting journal entry is as follows:

Bad Debts Expense A/c Dr. $36,000

           To Allowance for Doubtful Accounts   $36,000

(To record the estimate doubtful accounts)

Working notes:

Bad Debts Expense = 1 percent of net sales

                                 = 0.01 × $3,600,000

                                 = $36,000

You might be interested in
What techniques overcome resistance and help build credibility? check all that apply. listing names of satisfied users using a c
Virty [35]

Answer: The correct answers are listing the names of satisfied users and including performance tests, polls or awards.

Explanation: One techniques that helps to overcome resistance and build credibility is listing the names of satisfied users. Offering personal references for a product is an effective way to build credibility and overcome resistance. Another way to do this is by including performance tests, polls or awards. These types of items give your product credibility to people because they are seeing feedback from current users.

6 0
4 years ago
The following is an example of _____ stop by our store this Saturday between 2 and 4 to get a free gift
Y_Kistochka [10]

Answer: a call to action

Explanation:

6 0
3 years ago
List four people who are likely to play a role in the induction of a new employee?​
RUDIKE [14]

Answer: The answer is personnel manager,Top level management such as Directors, Marketing manager, Safety officer

Explanation:

Induction is the process of introducing the new employees into the organization. During the induction process the new employees are acquainted with the policies, practices and general objectives of the organization. Induction is done with a view to generate the personal interest of the new employees in the organization and also to create the employees enthusiasm for the job and to ensure the employees loyalty to the organization. It involves the explanation of the issues such as history of the organization, products and services, General policies and practices, benefits such as insurance ,retirement and vacation, safety regulation .The following officers are likely to play a role in the induction of new employee

Personnel manager for personnel matters such as the benefits that will accrue to such employees such as insurance, retirement benefit and vacation benefits

Marketing manager to handle products and services offer to the target market by the organization

Top level management such as directors to handle matters such as Organization history and General policies and practices

Safety officer to handle matter such as the safety precaution to be taken by the new employees while doing their job

7 0
3 years ago
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as foll
Murrr4er [49]

Answer:

Net Sales                         $2720

Explanation:

Hancock Corporation

    Jan 6:   Sales                      $ 1500

Add Jan 6    Sales                      $ 850

Less Jan 14   Sales Discount     $ 30 ( 2% of $ 1500)

<u>Add Feb 28:   Sales                   $ 400</u>

<u>Net Sales                                  $2720 </u>

Only a 2% discount is given on the cash received on Jan 14  on the sales made on JAn 6 to S. Green  because the cash is received within the first ten days of sales made. The cash received on Feb 2 is not given the sales discount as it is received after ten days of the sales made. That is sales were done on Jan 6 to M. Munoz.  with the terms 2/10, n/30 meaning discount will be given within the first ten days . But as the payment was on Feb 2 almost 17 days later the discount is not given.

The term 2/10 n/30 means a two percent discount will be given if sales were  paid within the first ten days. So a discount is given to S. Green but not M. Munoz as payment is done after 10 days.

6 0
3 years ago
Supply chain management systems are one type of ________ because they automate the flow of information across company boundaries
AlexFokin [52]

Answer:

inter-organizational system

Explanation:

An inter-organizational system refers to the network amongst organizations, or "sharing communications system between such a number of companies." The most common method of inter-organizational systems is electronic communications exchange, which allows for the immediate desktop-to-computer transmission of information.

The inter-organizational rules allow knowledge exchange to be streamlined between companies in terms of achieving a planned supply-chain management structure that allows profitable businesses to evolve. It facilitates customer needs planning and products and services distribution.

4 0
3 years ago
Other questions:
  • RGDP in the United States has grown at an average annual rate of 3% in the last couple of decades. If the RGDP annual growth rat
    9·1 answer
  • Why is acknowledgement so important to active listening?
    7·2 answers
  • Paul has been forced to retire from his company after over 30 years of employment. compared with his peers who voluntarily retir
    15·1 answer
  • General Importers announced today that its next annual dividend will be $2.60 per share. After that dividend is paid, the compan
    11·1 answer
  • D'Unique Enterprise, a company that manufactures hair growth oil is preparing for its upcoming financial year (2021). D’Unique'
    5·1 answer
  • 6. Which of the following is NOT true about raising capital?
    13·1 answer
  • Contracts are typically private agreements in that they bind the two parties and no one else. Thus, parties not in privity of co
    11·1 answer
  • _____ are stories about a person’s life written by that individual.
    12·2 answers
  • Which examples demonstrate tasks commonly performed in Construction jobs? Check all that apply.
    14·1 answer
  • Accounts payable, notes payable, and bonds payable are all common ______. multiple choice question. categories of assets liabili
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!