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
Kryger [21]
3 years ago
15

Searcy has accounts receivable of $700,000 and an allowance for doubtful accounts of $54,000. On January 24, 2020, it is learned

that the company’s receivable from Hutley Inc. is not collectible and therefore management authorized a write-off of $8,000. The journal entry to record the write-off will include a Select one: a. Debit to Bad Debts Expense. b. Debit to Sales. c. None of the above d. Credit to Accounts Receivable. e. Credit to the Allowance for Doubtful Accounts.
Business
1 answer:
raketka [301]3 years ago
5 0

Answer:

d. Credit to Accounts Receivable.

Explanation:

Hutley Inc. is not going to pay the $8,000 to Searcy, therefore Searcy will make the following entry to write off the balance from Account Receivables.

Debit: Allowance for Doubtful Accounts $8,000

Credit: Accounts Receivables $8,000

To write-off Hutley Inc. receivables.

You might be interested in
After the Interview The job search doesn't end with the interview. After your interview, be sure to follow up with the appropria
iogann1982 [59]

Answer:

The correct answers are letters "A", "D", and "E": Use a business letter format; Send a separate letter to each interviewer; Mention something you liked about the interview.

Explanation:

A <em>job interview </em>does not end after leaving the prospective company where you could work. Most organizations decide to choose one applicant over another if they contact their interviewers after the interview. For that purpose, that last contact must be a <em>formal letter stating what your impressions are of the company and why you are still interested in obtaining the job position</em>. Besides, if there was more than one interviewer, <em>a unique letter should be addressed to each of interviewer</em>.

3 0
3 years ago
C&amp;K Brewing Company is a microbrewery in western Canada. It produces Maiden’s Honor brand ale, a dark beer called Warrior’s
ehidna [41]

Answer:

The correct answer is letter "A": concurrent .

Explanation:

Concurrent control is adopted to regulate ongoing activities in an organization so that they can meet the company's standards. This type of control is chosen to ensure that the output will have the results expected. It implies measuring the quality of the processes at a certain point in time to determine to continue with them or not.

3 0
3 years ago
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual i
Alisiya [41]

Answer and Explanation:

The journal entries are shown below:

1. Inventory $1,800

        Accounts Payable $1,800

(Being purchased on account)

2. Inventory $50

     To Cash $50

(being freight paid)

3. Accounts Payable $51

     To Inventory $51

(being the returned calculator is recorded)

4. Accounts Receivable $670

       To Sales Revenues $670

(Being sales is recorded)

5. Cost of Goods Sold $460

      To Inventory $460

(Being cost of goods sold is recorded)

6.  Sales returns $40

         To Accounts Receivable $40

(being sales return is recorded)

7. Inventory $28.20

      To Cost of Goods Sold $28.20

(Being cost return is recorded)

8. Accounts Receivable $780

      To Sales Revenues $780

(Being the sales is recorded)

9. Cost of Goods Sold $560

      To Inventory $560

(Being the cost of goods sold is recorded)

5 0
3 years ago
The objectives of internal control are to a.prevent fraud and promote the social interest of the company b.provide control over
Marina86 [1]

Answer:

d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

Explanation:

The purpose of internal controls is to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

By definition: An internal control is a procedure or policy put in place by management <u>to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.</u>

Summarily, internal controls are put in place as a process to prevent employees from stealing assets or committing fraud.

4 0
3 years ago
When an industry is a natural monopoly:
Margaret [11]

Answer:

The answer is D a larger number of firms will lead to a higher average cost

6 0
3 years ago
Other questions:
  • Wats a different way to say "measure the area and cut flooring material to fit"
    13·1 answer
  • What is importing?<br> HELP FAST PLS THX
    11·2 answers
  • Prompt<br> What are the factors of production? Government online class !?!
    15·1 answer
  • The making of the movie Waterworld cost a total of $180 million. It generated a total of $130 million in revenues. $70 million w
    15·1 answer
  • Andreas Broszio​ (Geneva). Andreas Broszio just started as an analyst for Credit Suisse in​ Geneva, Switzerland. He receives the
    12·1 answer
  • The accounting manager of Gateway Inns has noted that every time the inn's average occupancy rate increases by 3.3 percent, the
    10·1 answer
  • In 20 words or fewer, name some other types of opportunity costs
    10·1 answer
  • Lifetime goals are the vision that you have of how you want to live, work, play, and thrive during your entire life, rather than
    5·2 answers
  • What are some of the reasons that foreign manufacturers of products as diverse as automobiles, cell phones, and tires might arri
    7·1 answer
  • in order to get clarity on your money goals and have a powerful reminder to keep you on track, you need to
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!