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Valentin [98]
3 years ago
10

Journalize the following transactions, using the allowance method of accounting for uncollectible receivables

Business
1 answer:
Katyanochek1 [597]3 years ago
3 0

Answer:

                                 Journal entry

Date Account & Explanation                     Debit      Credit

Mar 17.    Cash                                                 $2,700

               Allowance for doubtful accounts   $6370  

                        Account receivable                                $9,070

Jul 29     Account receivable                         $6,370

                        Allowance for doubtful accounts           $6,370

              (To record amount reinstated)

               Cash                                                 $6,370

                         Account receivable                                 $6,370

              (To record amount received)

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Dmitriy789 [7]

Answer: 8 quarters

Explanation:

Nickels means 5 cents

Dimes means 10 cents

Quarters means 25 cents.

N and D = $2.7 = 270 dollars

Q and D = $3.5 = 350 dollars

Find the attached document for the solution.

5 0
3 years ago
While attending a baseball game cheering for the home team a fan of the other team sneaks up behind jack and hits jack on the he
MissTica

Answer:

C) Battery

Explanation:

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5 0
3 years ago
A company that produces custom bike license plates spends $5525 per month in building overhead plus $2.50 per license plate. if
vivado [14]

<u>Calculation of Breakeven Point:</u>

The breakeven point (units) can be calculated using the following formula:

Breakeven Point (Units) = Total Fixed cost/ (Selling Price- Variable Cost)

It is given that the company produces custom bike license plates and spends $5525 per month in building overhead plus $2.50 per license plate. The plates sell for $5.99 each.

Hence,

Breakeven Point (Units) = 5525 / (5.99-2.50) = 1583.09

Hence we can say that the company must sell <u>1583 plates</u> each month before making the profit.



8 0
4 years ago
SummerSnowman Industries' last dividend was $1.25. The dividend growth rate is expected to be constant at 15.0% for 3 years, aft
matrenka [14]

Answer:

$33.50

Explanation:

we can use the perpetual growth model to determine the price of the stock

the firm's stock price = ($1.25 x 1.15)/1.11 + ($1.25 x 1.15²)/1.11² + ($1.25 x 1.15³)/1.11³ + [($1.25 x 1.15³ x 1.06)/(11% - 6%)]/1.11³

the stock price in 3 years = ($1.25 x 1.15³ x 1.06)/(11% - 6%) = $40.30

the firm's stock price = ($1.25 x 1.15)/1.11 + ($1.25 x 1.15²)/1.11² + ($1.25 x 1.15³)/1.11³ + $40.30/1.11³ = $1.30 + $1.34 + $1.39 + $29.47 = $33.50

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3 years ago
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