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
kumpel [21]
2 years ago
5

Journalize the following transactions in the accounts of Arizona Interiors Company, a Restaurant Supply Company that uses the al

lowance method of accounting for uncollectible receivables:
May 1. Sold merchandise on account to Taiwan Palace Co., $13,400. The cost of the merchandise sold was $9,600.
Aug. 30. Received $2,800 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible.
Dec. 8. Reinstated the account of Taiwan Palace Co. that had been written off on August 30 and received $10,600 cash in full payment.
Business
1 answer:
emmasim [6.3K]2 years ago
6 0

Answer:

May 1

Dr Cost of merchandise sold $9,600

Cr Merchandise inventory $9,600

Aug. 30

Dr cash $2,800

Dr Allowance for doubtful accounts $10,600

Cr accounts receivable-peking palace co $13,400

Dec. 8

Dr Accounts receivable - peking palace co $10,600

Cr Allowance for doubtful accounts $10,600

Explanation:

Preparation of the journal entries in the accounts of Arizona Interiors Company

May 1

Dr Cost of merchandise sold $9,600

Cr Merchandise inventory $9,600

Aug. 30

Dr cash $2,800

Dr Allowance for doubtful accounts $10,600

($13,400-$2,800)

Cr accounts receivable-peking palace co $13,400

Dec. 8

Dr Accounts receivable - peking palace co $10,600

Cr Allowance for doubtful accounts $10,600

You might be interested in
I need ideas for my new rap song
Vlada [557]
Sing about what you did to get to where you are now, it helps people understand why u starting rapping, many do it to cope with pain. But hey wish you luck!!
5 0
2 years ago
POINTS!!!!!!!!!!!!!! BRAINLIEST AND 20+ POINTS!!!
bekas [8.4K]

Answer:

B

Explanation:

I think you've already figured this out for yourself, but I thought I'd answer anyway and maybe clarify some things.

Supply is the total amount of a <u>good or service</u> that is available to consumers.

  • Think about it: goods are physical things bought and sold, like apples. Services are actions done for another person, like taxi driving or renting a used car.
  • None of the other answers make sense: a "device" is not a strictly defined term in economics; an "industry" can't be available to consumers, and a "warranty" isn't applicable.
4 0
3 years ago
Read 2 more answers
Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra
Gnom [1K]

Answer:

Product warrant liability to be reported as on 31.12.2021* is $3.124

<em>*The procedures are attached in a microsof excel document. </em>

Explanation:

This amount will be recognized as a liability only if product warranty amount can be rmeasured reliabily and there is probability that there will be an outflow of funds.

Download xlsx
6 0
2 years ago
Employees of a hotel are short-staffed in the kitchen during a banquet event. The food will not be served on time, therefore thr
marta [7]
All of them could work together by saving time helping each other cooking and serving food
4 0
3 years ago
Boney Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar b
STatiana [176]

Answer:

$25 per batch

Explanation:

Combined final sales value:

= Sales value of refined sugar + Sales value of industrial fiber

= $65 + $65

= $130

Financial advantage:

= Combined final sales value - Further Processing - sugar beets costs - Cost to Crush

= $130 - ($17 + $21) - $54 - $13

= $130 - $38 - $54 - $13

= $25 per batch

Therefore, the financial advantage (disadvantage) for the company from processing one batch of sugar beets into the end products industrial fiber and refined sugar is $25.

8 0
3 years ago
Other questions:
  • A large bureaucratic organization is about to undertake a massive change in the way they do business. These changes will include
    14·1 answer
  • Alfred, a software programmer at Gamma Inc., develops a program that spreads Trojan viruses to the organization’s network. When
    6·1 answer
  • Canada has nationalized health​ care, so that​ everyone, regardless of their ability to​ pay, has some access to health care. Ba
    13·1 answer
  • Please help me please
    13·1 answer
  • Perez, in recently completed 56,000 units of a product that was expected to consume four pounds of direct material per finished
    10·1 answer
  • RKI Instruments borrowed $4,300,000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide m
    6·1 answer
  • Joey’s parents told him that for every 3 hours of chores he completes, they would give him $11 for his allowance. His friend Sar
    11·1 answer
  • Theo quan điểm hiện đại khi tiếp cận chi phí chất lượng, chi phí chất lượng thấp nhất là khi
    15·1 answer
  • The primary goal of a(n) ________ presentation strategy is to influence the prospect's beliefs, attitudes, or behavior and to en
    12·1 answer
  • Read these articles on the importance of setting goals, Article 1 and Article 2. As you read, think about how each article defin
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!