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Brrunno [24]
3 years ago
6

An aging of a company's accounts receivable indicates that $13900 are estimated to be uncollectible. If Allowance for Doubtful A

ccounts has a $1230 credit balance, the adjustment to record bad debts for the period will require a
Business
1 answer:
tino4ka555 [31]3 years ago
8 0

Answer:the adjustment to record bad debts for the period will require a

Debit on   Bad debt expenses for $ 12,670 and a credit To Allowance for doubtful accounts for  $ 12,670

Explanation:

Account receivables for uncollectibles= $13,900

Allowance for Doubtful Accounts = credit balance of $1230

Adjusting entry for bad debts expense =Account receivables - credit balance of $1230

= $13,900- $1,230

=$12,670

Adjusting entry for the record of  bad debts expense  

Accounts titles                 Debit                       Credit

Bad debt expenses $ 12,670

To Allowance for doubtful accounts             $ 12,670

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5 0
1 year ago
Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $77.152 million Cash of $6.030 millio
jonny [76]

Answer:

$45.027 million

Explanation:

The accounting equation shows the relationship between the various elements of the balance sheet. These are the assets, liabilities and equity. It is given as

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Retained earnings = Equity - Common stock

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3 years ago
True or false: every sigma chi committee, including the executive committee and education and leadership board, have at least on
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4 years ago
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3 years ago
Which one of the following correctly describes the dividen yield ?
Simora [160]

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