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galben [10]
3 years ago
13

An aging of a company's accounts receivable indicates that $4,000 are estimated to be uncollectible. If Allowance for Doubtful A

ccounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a
Business
1 answer:
german3 years ago
8 0

Answer:the adjustment to record bad debts for the period will require a debit of $3,800 on  Bad Debts Expense account and  a credit of $3,800  on Accounts Receivable account.

Explanation:

Account receivables = $4,000 uncollectible

Allowance for Doubtful Accounts =$1,200 credit balance

Adjustment to record bad debts =Account receivables-$1,200 credit balance

= $4,000 - $1,200

=$3,800

The  adjustment journal entry to record the bad debts for the period will require

Accounts                               Debit                 Credit

Bad debt expense              $3,800

Accounts receivables                                       $3,800  

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4 years ago
Morgan Company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semiannually. The current market rate is
Leno4ka [110]

Answer:

$33,750

Explanation:

Given that

Bond per share = $750,000

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Interest payment = bond per share × issued amount × (number of months ÷ total number of months in a year)

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= $33,750

7 0
3 years ago
Please help thank yoI
iogann1982 [59]

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6 0
3 years ago
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the country of doomsville is currently in a recession. the government of doomsville, in an effort to maintain its tax revenues i
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This policy would likely make Doomsville's recession worse.

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6 0
3 years ago
Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cos
Leni [432]

Answer:

the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

Explanation:

The Weighted Average Cost Method calculates the new cost of Inventory with each purchase of Inventory.

The Perpetual Inventory System records the cost of inventory sold with each sale made.

<u>Calculation of  the new cost of Inventory with each purchase of Inventory :</u>

January 10:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 600 units × $55 per unit ) + ( 1000 units × $59 per unit )) / 1600 units

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January 20:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 1600 units × $57.50 per unit ) + ( 800 units × $62 per unit )) / 2400 units

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There were no further purchases from this point

Thus cost per units remains at $ 59.00

Therefore the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

3 0
3 years ago
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