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storchak [24]
3 years ago
11

Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables:

Business
1 answer:
Nutka1998 [239]3 years ago
6 0

Answer:

Mar. 17

Dr Cash $275

Dr Allowance for uncollectible accounts $1,000

Cr Accounts receivables $1,275

July 29

Dr Accounts receivables $1,000

Cr Bad Debts expense $1,000

Dr Cash $1,000

Cr Accounts receivables $1,000

Explanation:

Preparation of the journal entries using the direct write-off method of accounting for uncollectible receivables

Mar. 17

Dr Cash $275

Dr Allowance for uncollectible accounts $1,000

Cr Accounts receivables $1,275

($275+$1,000)

July 29

Dr Accounts receivables $1,000

Cr Bad Debts expense $1,000

Dr Cash $1,000

Cr Accounts receivables $1,000

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Answer:

  • <u><em>d. a reduction in output and employment in domestic industries that utilize steel as a resource</em></u>

Explanation:

The first impact of a <em>quota that limits the importation of steel into the United States </em>is that the domestic market will experience a decrease on the number of suppliers.

As a consequence, the domestic manufacturers will have less competition and they will be able to increase the prices of the steel in the domestic market, instead of struggling to decrease the costs, or improve the quality, or increase the productivity, or enhance the service.

Thus, the domestic indutries that utilize the steel will face an increase on the prices of their main raw material, becoming less competitive. Then, <em>most likely</em>, their price should increase and their sales and production should decrease; thus, <em>they will face a reduction in output and employment.</em>

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Answer:

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3 years ago
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Answer:

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Explanation:

Journal entries

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No entry

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Apr. 11

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Apr. 20

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4 years ago
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Leto [7]

Answer:

hope help to u

Explanation:

Metropolitian Area Network

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