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juin [17]
2 years ago
10

At the end of the current year, using the aging of receivable method, management estimated that $24,750 of the accounts receivab

le balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $675. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
mihalych1998 [28]2 years ago
7 0

Answer:

Dr Bad Debt Expense $25,425

Cr Allowance for Doubtful Accounts $25,425

Explanation:

Based on the information given the appropriate adjusting entry should the company make at the end of the current year to record its estimated bad debts expense will be

Dr Bad Debt Expense $25,425

Cr Allowance for Doubtful Accounts $25,425

($24,750+$675)

(To record estimated bad debts expense )

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F. None of The Above

Explanation:

Real property located in the United States exchanged for foreign real property (and  vice versa) does not qualify as like-kind property.

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When two people are talking, they want the listener to understand what they are saying. They both want to be effective communica
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Salespeople have to develop a mutual trusting relationship with the customers has this determines the long term sales relationship that they can mutually benefit from. A part of developing trust with the customer includes a good and long effective communication between the two.
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"A(n) _________________________ involves the free flow of products and factors of production among member-countries and the adop
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Answer:

"An economic and monetary union involves the free flow of products and factors of production among member-countries and the adoption of a common external trade policy, but it also requires a common currency, harmonization of members tax codes, and a common monetary and fiscal policy."

Explanation:

A monetary and economic union is a common market with a common currency. Monetary unions have not necessarily created a common market; in fact, the only monetary and economic union in the world is the Eurozone of the European Union, made up of members of the Union who have adopted the euro as their state currency. It is considered one of the most advanced stages of economic integration.

3 0
2 years ago
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2.3 The Ledger and Posting
blsea [12.9K]

The net change in the Cash account balance from these three transactions is $30,000

What is the company's net change in cash account balance?

The net change in company's cash balance is the excess of its cash inflows from sources minus its cash outflows from all sources, in other words, the net change in cash balance from the three transactions is the funds raised long-term debt issuance and the amounts paid for equipment and raw materials

net change in cash balance=$200,000-$150,000-$20,000

net change in cash balance=$30,000

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8 0
1 year ago
Market researchers often report discretionary income. Discretionary income is your disposable income minus your fixed expenses.
SOVA2 [1]

The percentage of the disposable income that is discretionary is equal to 30.82% if the amount left after fixed expenses is $900.

As the amount left after payment of the fixed expenses is $900, this is said to be the discretionary income because discretionary income is equal to the disposable income minus fixed expenses.

Now we can calculate the percentage of disposable income that is discretionary as follows;

percentage of disposable income that is discretionary = (discretionary income ÷ disposable income) × 100

% discretionary income = (900 ÷ 2,920) × 100

% discretionary income = 90,000 ÷ 2,920

% discretionary income = 30.82%

Hence, 30.82% of the disposable income is calculated to be discretionary if the disposable income is $2,920 and the amount left after payment of fixed expenses is $900.

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