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leva [86]
2 years ago
10

On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimat

e bad debt included the following: Accounts Receivable, debit balance of $98,900; Allowance for Doubtful Accounts, credit balance of $1,131. What amount should be debited to Bad Debts Expense, assuming 4% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible
Business
1 answer:
Andru [333]2 years ago
7 0

Answer:

the bad debt expense is $2,825

Explanation:

The computation of bad debt expense is shown below:

= Debit balance of account receivable × given percentage - credit balance of allowance for doubtful debts

= $98,900 × 4% - $1,131

= $3,956 - $1,131

= $2,825

Hence, the bad debt expense is $2,825

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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Answer:

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3 years ago
Pine Street Inc. makes unfinished bookcases that it sells for $58.10. Production costs are $37.49 variable and $10.50 fixed. Bec
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Answer:

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Explanation:

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Contribution Margin

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Less  Production costs

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Pine Street Inc.

Finished bookcases

CONTRIBUTION MARGIN

Sales Price                                                                 $74.91

Less Production costs

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<u>Fixed Costs $10.50                                                     $ (53.78)</u>

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Vaughn Manufacturing reported net income of $1.5 million in 2017. Depreciation for the year was $153.008, accounts decreased $34
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Answer:

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