Answer and Explanation:
The journal entries are shown below:
a. Bad Debt Expense ($135,500 × 5% - $2,304) Dr. $4,471
To Allowance for Doubtful Accounts Cr. $4,471
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expense and credited the allowance for doubtful debts as it decreased the value of the assets
b. Bad Debt Expense ($135,500 × 5% + $678) Dr. $7,453
To Allowance for Doubtful Accounts Cr. $7,453
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expense and credited the allowance for doubtful debts as it decreased the value of the assets
A shortsighted view of customer interaction shows that: You should figure that a customer calls or comes in, service is provided and then the customer goes away
Shortsighted view customer interaction refers to the way we describe an ideal customer interaction in a simplistic way.
Every good sales person have been trained to spot what the customer need and how to influence that customer to choose the product that will bring the most profit to the business.<span />
The term that is being described above is what we call the CREDIT UNION. This is a nonprofit cooperative wherein members are allowed to make deposits, and with these pooled deposits, the members can borrow money with minimal interest rates. Hope this answers your question.
1/3 because you have to see which number 18 is divisible by and it’s not 4 so it would be 1/3
Answer and Explanation:
The Journal entry is shown below:-
Cash account Dr. $50,000
To Paid in Capital in Excess of Stated Value account $45,000
To Common Stock account $5,000
(Stated Value 1 × $5,000)
Being common stock issued is recorded)
For recording the common stock issued we simply debited the cash account as it is increasing assets while we credited the paid in capital in Excess of Stated Value and common stock as equity is increasing.
