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creativ13 [48]
2 years ago
15

A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year,

management estimated that $22,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance of $445. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
Sophie [7]2 years ago
5 0

Answer:

The appropriate answer is "$22,305".

Explanation:

The given values are:

Estimated uncollectible,

= $22,750

Credit balance in allowance,

= $445

Now,

The bad debt expense will be:

= Estimated \ uncollectible-Credit \ balance \ in \ allowance

By substituting the values, we get

= 22750-445

= 22305 ($)

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Answer:

Dr Service cost 245,000

Cr Interest 166,400

Cr Cash 411,400

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Cr Service cost 245,000

Cr Interest 166,400

Explanation:

Preparation of the journal entries to record annual pension expense for the enterprise fund of Amherst City

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Dr Plan assets - pension 411,400

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<span>The statement that according to Marx, the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie is false. In contrast, according to Marx the best economic system would be </span><span>one where the means of production and distribution are in the hands of the proleteriat.</span>

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Ede4ka [16]

Answer:

TRUE.

Explanation:

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