1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SpyIntel [72]
3 years ago
14

Accounts receivable $ 35,000 debit Allowance for uncollectible accounts 500 credit Net Sales 180,000 credit All sales are made o

n credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? Multiple Choice $2,500 $1,080 $1,775 $1,275 $1,500
Business
1 answer:
SCORPION-xisa [38]3 years ago
5 0

Answer:

$1,080

Explanation:

Calculation for the amount that should be debited to Bad Debts Expense

Using this formula

Bad Debts Expense=Net Sales× Percentage of net credit sales uncollectible.

Let plug in the formula

Bad Debts Expense=180,000 credit×0.6%

Bad Debts Expense=$1,080

Therefore the amount that should be debited to Bad Debts Expense when the year-end adjusting entry is prepared will be $1,080

You might be interested in
Increasing technological innovation has helped to create an era of risk and instability. Globalization, new technologies, and gr
Goryan [66]

Answer:

The correct answer is letter "D": adaptability; competitive advantage.

Explanation:

A competitive advantage is a factor of an organization that differentiates it from others. In front of the rapid changes the world is facing, not only in technology but also in politics and social awareness, companies must learn how to adapt to this new scenarios to strive against economic hardships since nowadays it is not only important to be good at doing something but also it is important to be good at how to do things in front of new situations.

4 0
3 years ago
Ehrmann Data Systems is considering a project that has the following cash flow and WACC data. What is the project's MIRR? Note t
dolphi86 [110]

Answer and Explanation:

The computation of the MIRR is shown below:

But before that terminal cash flow required to calculate

<u> Year       Cash Flows    FV Factor Formula      Terminal Value </u>

<u>                                                                       (Cash Flow × FV Factor) </u>

0             ($1,000)    

1               $450                 1.21                (1 +10%)^(2)      $545

2             $450                   1.1                 (1 + 10%)^(1)     $495

3            $450                   1                       1                 $450

Terminal Cash Flow                                                      $1,490

now the MIRR is

MIRR = \sqrt[n]{\frac{terminal\ cash\ flow}{initial\ investment} } - 1\\\\= \sqrt[3]{\frac{\$1,490}{\$1,000} } - 1

= 14.22%

As it can be seen that the MIRR is more than the WACC so the project should be accepted.

8 0
3 years ago
Hal Gore won a $2.1 million prize for special contributions to environmental research. This prize is awarded for public achievem
ioda

Answer:

1.53 Million

Explanation:

The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).

8 0
3 years ago
Many new restaurants have opened in Collegetown in recent years. Given this change in supply, what type of demand would result i
Karolina [17]

The answer is : Elastic Demand. The elasticity of demand shows the responsiveness of the quantity demanded to the change in price. An elastic demand means that the demand is affected by changes in price. While an inelastic demand means that the supply is not affected by changes in price at all.

8 0
3 years ago
Read 2 more answers
Marking brainliest! What is an example of a public corporation?
stepladder [879]

Answer:

Library

maybe

probably because many people

5 0
2 years ago
Read 2 more answers
Other questions:
  • A business that received a grant would not have to repay that money. True or False?
    11·2 answers
  • The use of communications and technologies such as videoconferencing and networks has enabled increased?
    13·1 answer
  • The lag problem associated with fiscal policy is due mostly to Group of answer choices the time it takes for changes in governme
    9·1 answer
  • Sauder Corporation reports the following information: Net income $380,000 Depreciation expense 70,000 Increase in accounts recei
    5·2 answers
  • What is the residual value of a leased vehicle? A. The vehicles current selling price
    10·2 answers
  • Paul, age 37, participates in a Section 401(k) plan which allows employees to contribute up to 15 percent of their salary. His a
    11·1 answer
  • Prior to the financial meltdown, bond ratings agencies were accused of having _____ because they were paid by the organizations
    12·1 answer
  • 2018
    10·1 answer
  • What was the target market for traditional advertisers
    15·1 answer
  • Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!