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
yulyashka [42]
3 years ago
12

Allowance for Doubtful Accounts has a debit balance of $900 at the end of the year (before adjustment), and bad debt expense is

estimated at 1% of credit sales. If credit sales are $950,000, the amount of the adjusting entry to record the estimate of the uncollectible accounts
a. is $10,400
b. is $9,500
c. is $900
d. is $8,600
Business
1 answer:
worty [1.4K]3 years ago
4 0

Answer:

a. is $10,400

Explanation:

The adjusting entry is as follows:

bad debt expense Dr ($950,000 × 1% + $900) $10,400

       To Allowance for doubtful debts $10,400

(Being bad debt expense is recorded)

here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debt is credited as it decreased the assets

Therefore the correct option is a.

You might be interested in
Stephen Glass made himself infamous as a dishonest journalist by fabricating material for more than forty articles for The New R
tensa zangetsu [6.8K]

Answer:

Stephen Glass, it is significant and appropriate to comprehend the idea of ETHICS. In a typical man terms one can comprehend being Ethical amounts to only acting/thinking ethically.  

Presently when we talk about Stephen Glass, one individual understands that there are sure worries as to the calling of media. Being a columnist requires two most significant attributes, first to be honest as in they are to report realities that are valid, something that they have seen or have an affirmed presence of. It is appropriate to take note of that this a calling which supplies truth to the overall population , this advises the general population regarding the occasions that occur or happen close to them, it is on a par with teaching people in general. It is an honorable capacity, altering of any news is the most noticeably awful thing that can affect the general public given the way that PRESS is the fourth bequest in any nation and all the opportunity of articulation begins with this unit. Second is the way that this episode has caused gigantic worry with how trustful can news sources or writer be. This occurrence totally decimates the capacity of Media Outlets and Peoples Belief in them.  

This episode further guarantees the presence of a Media Platform which could practice capacities premise the benefits or the evaluations that they acquire and might I be able to a huge way sway the establishment of its reality.

7 0
3 years ago
All of the following are organization-directed benefits associated with offering unconditional guarantees except: a. the guarant
kotykmax [81]

Answer:

All of the following are organization-directed benefits associated with offering unconditional guarantees except:

a. the guarantee provides a means to avoid bankruptcy.

Explanation:

Providing or offering customers unconditional guarantees does not help the company to avoid bankruptcy.  Bankruptcy arises from inadequate financing resulting from overtrading.  Importantly, offering guarantees to customers communicates a clear performance goal to employees to improve service delivery to customers.

3 0
3 years ago
A 100,000 loan is being repaid in 360 monthly installments at a 9% nominal annual interest rate compounded monthly. The first pa
skad [1K]

Answer:

The payment after 1 year will be

F=P(1+i)^n

n=1 year

P=100,000

F=100000(1+0.09)

F=109000 after 1 year

interest=9/100*100000=90000

exceeded payment=109000-90000=19000

6 0
3 years ago
Read 2 more answers
Please help. Describe how stocks are purchased by investors.
attashe74 [19]

Answer:

Investors most commonly buy and trade stock through brokers. You can set up an account by depositing cash or stocks in a brokerage account. Firms like Charles Schwab and Citigroup's Smith Barney unit offer brokerage accounts that can be managed online or with a broker in person.

5 0
3 years ago
The metro system in Chepe City is new, so the government has decided not to sell tickets but to charge a flat amount to each of
almond37 [142]

Answer:

Explanation:

55

8 0
3 years ago
Other questions:
  • Which tax is used to support healthcare costs for retirees?
    15·2 answers
  • Beth must purchase firewalls for several network circuits used by her organization. which one circuit will have the highest poss
    13·1 answer
  • "Inventories of _____ can provide vast amounts of information concerning attitudes toward product categories, brands within prod
    14·1 answer
  • Which of the following should NOT be provided in a complaint letter?
    6·1 answer
  • If Joanna is risk averse, then Group of answer choices her utility function exhibits the property of decreasing utility. her uti
    15·1 answer
  • The market risk premium is computed by: adding the risk-free rate of return to the inflation rate. adding the risk-free rate of
    7·1 answer
  • Eco Lawn Care Corp., a company that manufacturers environmentally friendly lawn care products, has been operating as a business
    6·1 answer
  • Manuel is retired and receives a fixed payment from his pension each month. when there is inflation?
    6·1 answer
  • According to the concept of persistence in the rate of growth, if the economy this quarter, it will ____________.
    8·1 answer
  • the consumer price index (cpi) is constructed using the goods and services purchased by thehousehold. quizlet
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!