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Aliun [14]
2 years ago
7

For 2021, Rahal's Auto Parts estimates bad debt expense at 1% of credit sales. The company reported accounts receivable and an a

llowance for uncollectible accounts of $89,500 and $2,700, respectively, at December 31, 2020. During 2021, Rahal's credit sales and collections were $410,000 and $414,000, respectively, and $2,940 in accounts receivable were written off. Rahal's accounts receivable at December 31, 2021, are:
Business
1 answer:
ziro4ka [17]2 years ago
4 0

Answer:

$3,860

Explanation:

The balance in the account Allowance for Doubtful Accounts is expected to be the projected amount in receivables of the company that will not be converting to cash.

Therefore to calculate final balance of allowance for doubtful balance

Beginning balance                                                                 2700

Bad debt expense (410000*1%)                                            4100

Less: Written off                                                                   -2940

Ending balance                                                                    3860

So answer is $3,860

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Is it possible that a person might be an effective leader in one situation but not in another
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Several employees at a fast-food restaurant call in sick at the last minute. The manager tries to fill in but doesn't know how t
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2 years ago
Consider firms that introduce new​ products, such as DVDs in 2001. When firms introduce new​ products, how do they typically det
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Answer:

D. estimate price elasticity of demand by experimenting with different prices

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I hope my answer helps you

4 0
3 years ago
wise guys consulting receives payment in full totaling $9,000 from a client for services which were rendered and invoiced the pr
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The impact at the time the payment is received is a Revenue $9000 increase with credit.

Turnover is the total amount of revenue generated from the sale of goods or services related to the company's main activities. Earnings, also known as total earnings, are often referred to as the "top line" because they are at the top of the income statement.

Revenue is the total revenue generated from the sale of goods and services related to the company's main activities. Commercial income is also called sales or earnings. Some companies derive their income from interest, royalties, or other fees.

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The Revenue is used as an indicator of income quality. There are several financial metrics related to this. The main ones are gross margin and profit margin. Businesses also use earnings to determine the cost of bad debts using the income statement method.

Account receivable $9000 increasea  with debit

Revenue $9000 increase with credit

Learn more about Revenue here:-brainly.com/question/16232387

#SPJ4

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9 months ago
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