Ask question

Ask question

All categories

3 years ago

6

Amend Inc. debited Accounts Receivable and credited Allowance for Uncollectible Accounts to reestablish an account previously wr

itten off. Amend Inc. should also debit _______ and credit _______. Multiple choice question. Accounts Receivable; Cash Cash; Allowance for Uncollectible Accounts Cash; Accounts Receivable Allowance for Uncollectible Accounts; Cash

1 answer:

goldfiish [28.3K]3 years ago

5 0

Answer:

Cash; account receivable

Explanation:

The journal entry to reestablish an account previously written off is given below:

Cash Dr XXXXX

To account receivable XXXXX

(being the reestablish an account previously written off is recorded)

Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets

You might be interested in

The cost principle relates most closely to the ______.

xeze [42]

The recognition point

4 0

3 years ago

According to the text, economic analyses became more difficult when a firm entered overseas markets because, unlike the situatio

adelina 88 [10]

Answer:

The correct answer is A. Management must operate in two new environments, foreign and international.

Explanation:

It is more difficult to assess the unknown environment. When the company belongs to a country, it is easier for her to study market behavior because it has information at her fingertips. On the other hand, international markets require more adaptation time to assess the internal impact of making investments.

8 0

3 years ago

To have an effective marketing exchange process, you must make sure it involves a customer, a provider, a product, and a:

k0ka [10]

1) lawyer

I hope this is right

5 0

3 years ago

Tinker's cost of goods sold in the year of sale (2019) was $790,000 and 2018 cost of goods sold was $810,000. The inventory at t

gladu [14]

Answer:

91 days

Explanation:

Here, we are to calculate the average number of days it will take to sell its inventory in 2019.

We proceed mathematically as follows;

Inventory turnover=COGS/Average inventory

Average inventory=(192,000 + 202,000)/2=$197,000

hence inventory turnover=(790,000/197,000)= 4.01

hence average days to sell=365/4.01 =91 days (approx)

6 0

3 years ago

Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $

maksim [4K]

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening ($24,000)

Allowance for Bad Debts Closing $780,000

(13,000,000)*6%

Allowance Bad Debt Expense for the year $756,000

5 0

3 years ago