Answer:
The answer is: A) Was approximately 7.77
Explanation:
A company's Accounts Receivable turnover rate refers to the number of times per year that a company collects its accounts receivable. It is calculated using the following formula:
turnover rate = 365 days / average time to collect accounts receivable
turnover rate = 365 days / 47 days = 7.77
Answer: C) Technical selling
Explanation:
Technical selling or technical sales is an act in which a sales person helps to address customer's needs by understanding what they needs which is a determinant of what product to buy.
Technical selling involves the sales personnel addressing the need of customers, explaining the type and features of the product they needs, network with them and make sure they are satisfied.
A technical sales person must have the ability for effective communication and have good interpersonal skills so as to maintain a good relationship with customers.
Answer:
Bad debt expense $ 1.100
Allowance for Uncollectible Accounts $ 1.100
Explanation:
Accounts Receivable $ 15,000
Allowance for Uncollectible Accounts $ 400
- It's necessary to entry the next journal entry to meet the amount indicate by the method.
Bad debt expense $ 1,100
Allowance for Uncollectible Accounts $ 1,100
Accounts Receivable $ 15.000
Allowance for Uncollectible Accounts $ 1.500
- Accounts Uncollectible are those credit that the company give and there are not chances of been collected. When the customers buy products on credits but then the company can't collect the debt, then it's necessary to write off the unpaid bill as uncollectible
- One way it's to write-off directly the bad debts at the moment decided that the credit are uncollectible, the total amount it's reported as bad debt expenses which affect negativly the income statement and the accounts receivable are reduce in the same amount, less assets.
- The other way it's to determine a percentage of total amount of accounts receivables as uncollectible, exist many ways to analize the accounts receivable and figure the value of uncollectible.
When the company have the percentage of uncollectible accounts the journal entry required is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)
. At the moment of the write-off as the expenses were before recognized we only use the Allowance for Uncollectible Accounts (Debit) with Accounts Receivable (Credit), with this we are recognizing the uncollectible credit of the company.
Answer:
The depreciation exp for the first year will be 4250 and second will be the same 4250
Explanation:
First we have to subtract the salvage value from the cost of the truck as the method assumes
43000-9000=34000
Second we have to divide the amount we got already by the estimated useful life
34000/8=4250 the dep amount for the first year
Every year we have to do the same process as shown above to get the dep exp amount
Answer: All of the above
Explanation:
Inventory management system simply means managing inventory in a way that its cost will be reduced while output will be maximized. Just in time simply has to do with when sticks are provided by the supplier at the particular time they're needed.
Radio frequency identifications system helps track a product from a location to another. EOQ is used to is calculate order cost so as to choose the lead and affordable one.
Therefore, all the options are right.