Answer:
a. is $10,400
Explanation:
The adjusting entry is as follows:
bad debt expense Dr ($950,000 × 1% + $900) $10,400
To Allowance for doubtful debts $10,400
(Being bad debt expense is recorded)
here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debt is credited as it decreased the assets
Therefore the correct option is a.
I honestly don’t know I’ve tired re-reading it over and over and idk I’m so sorry
Answer:
indemnity
Explanation:
The principle of indemnity asserts that on the happening of a loss the insured shall be put back into the same financial position as he used to occupy immediately before the loss. In other words, the insured shall get neither more nor less than the actual amount of loss sustained.
i hope this helps!
brainliest is very much appreciated... :}
Answer:
117
Explanation:
Please mark brainliest and have a great day!
Collateral- Something pledged as security for repayment of a loan, to be forfeited in the event of a default.
