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Fantom [35]
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
Business
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

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Answer:

r= .0901, or 9.01%

Explanation:

N=18, PV=73,000, FV=345,000, I=? 9

Therefore:

V = PV(1 +r)t

= (FV/PV)1/t– 1

r= ($345,000/$73,000)1/18– 1

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The annual rate of interest the person must earn on the investment to cover the cost of the child’s college education is 9.01%

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According to the rational choice decision-making process, the first step in solving this problem would be:
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1. Dividends = It will be classified as <u>dividends.</u>

2. Rent Revenue = It will be classified as <u>revenues.</u>

3. Advertising Expense = It will be classified as an<u> expense.</u>

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<u></u>

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