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
zvonat [6]
3 years ago
13

The following information is available for Bonita Industries: Allowance for doubtful accounts at December 31, 2019 $23500 Credit

sales during 2020 1280000 Accounts receivable deemed worthless and written off during 2020 28900 As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16700 is needed at December 31, 2020. What amount should Bonita record as "bad debt expense" for the year ended December 31, 2020?
Business
1 answer:
Liula [17]3 years ago
5 0

Answer:

$22,100

Explanation:

With regards to the above, the calculation for bad debt expense is is given as;

= Bad debt expense balance required + bad debt written off from accounts receivables - Existing bad debt allowance balance

= $16,700 + $28,900 - $23,500

= $22,100

Therefore, bad debt expense for the year ended December 31, 2020 is $22,100

You might be interested in
Which of the following choices best describes an interest rate?
NNADVOKAT [17]
I belive the answer is D.
hope this helps!
4 0
3 years ago
Read 2 more answers
baez is employed by credit agency inc. on the the termination of baez position,. credit agency pays Baez $10,000 to agree not to
Ivanshal [37]

Answer and Explanation:

Credit agency inc. likely to recover $10,000 from Baez.

Baez has already been removed from the credit agency, so the relation between Baez and credit agency has already ended.

The credit agency cannot claim its loss in any way, so the credit agency can only be Claim and have the right to claim for contacted amount with Baez.

8 0
3 years ago
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expen
Andrew [12]

Answer: $22,500

Explanation:

First calculate the rate of allocation based on sales to determine how much of Department T's sales should be attributed to Advertising.

The Rate of Allocation based on Sales = Advertising Expense/Total sales

= 50,000/475,000

= 0.105263

= 10.5263%

This 10.5% can then be used to find out how much of Advertising to apportion to Department T based on department sales,

= Department sales * Allocation rate

= 213,750 * 10.5263%

= $22,500

$22,500 should be allocated to Department T.

8 0
4 years ago
A health inspector wants to check compliance with a new city ordinance on meat storage. since he can only inspect 10 of the 33 s
tigry1 [53]

BBBBBBBBBBBBBBBBBBBBBBBBBBB

7 0
4 years ago
Weather Watches, a watch manufacturing company, faces a lot of problems while planning and setting goals as its competitors’ tec
Licemer1 [7]

Answer:

B. A dynamic and complex environment

Explanation:

6 0
3 years ago
Other questions:
  • Which of these describes installment loans
    15·2 answers
  • If there was a flood that caused damage to your car, what kind of coverage must you have in order for the insurance company to h
    9·1 answer
  • Explain how the legal, regulatory and ethical requirements relate to the business of selling or marketing
    11·1 answer
  • What are the emerging trends in development studies and ethic?​
    10·1 answer
  • Assume for a moment that Sue, the owner of Camp Bow Wow in Colorado, said that she was looking to provide constantly evolving an
    15·1 answer
  • Bear, Inc. estimates its sales at 200,000 units in the first quarter and that sales will increase by 20,000 units each quarter o
    8·1 answer
  • Terophone charge is debit or credit​
    13·1 answer
  • Repetitive sequences of activities that express and reinforce the key values of the
    14·1 answer
  • Mulherin's stock has a beta of 1.23, its required return is 11.75%, and its risk-free rate is 2.30%. What is the required rate o
    8·1 answer
  • TufStuff, Inc., sells a wide range of drums, bins, boxes, and other containers that are used in the chemical industry. One of th
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!