Find the attachments for complete answer
Answer:
(D) $ 1,450
Explanation:
The ending balance in allowance for uncollectible accounts is calculated by the following equation.
Opening Balance + Allowance for the year - Receivables written off = Ending Balance
$ 1,610 + $ 1,590 (0.5 % of sales on credit, $ 318,000 *0.5%) - $ 1,750 ( Receivables written off) = Adjusted allowance for uncollectible accounts <u>$ 1,450</u>
The amounts collected are not relevant in calculating the ending balalnce
Answer:
Communication
Explanation:
Communication is the exchange and flow of information and ideas from one person to another; it involves a sender transmitting an idea, information, or feeling to a receiver
Answer:
D
Explanation:
ERP , an acronym for Enterprise resource Planning is a system adopted by organization to integrate different parts of the business either in real time or through software.
It has so many advantages towards business growth as well as limitations.
Of the listed options in the question ,the only exception to its limitation is that it may require procedures and reports to be standardized across business units, This is more of benefit than limitation.
Answer and Explanation:
The journal entries are shown below:
1. Interest Receivable $300($36,000 × 10% x 30 ÷ 360)
To Interest Revenue $300
(Being accrued interest revenue is recorded)
2. Cash $36,450
To Interest Receivable A/c $300
To Interest Revenue A/c $150 ($36,000 × 10% x 15 ÷ 360)
To Notes Receivable A/c $36000
(Being note maturity date it is honoured is recorded)
