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ozzi
3 years ago
12

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts ex

pense, reports the following selected amounts: Accounts receivable $ 431,000 Debit Allowance for Doubtful Accounts 1,390 Debit Net Sales 2,240,000 Credit All sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
TEA [102]3 years ago
6 0

Answer:

Bad Debts Expense $9,385 & Allowance for Doubtful Accounts $9,385

Explanation:

Bad debt expense = ($431,000 *2.5%) - $1,390

Bad debt expense = $10,775 - $1,390

Bad debt expense = $9,385

Adjusted Entry

Debit - Bad Debts Expense $9,385

Credit - Allowance for Doubtful Accounts $9,385

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What is the main difference between ballon mortgage and arm
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Answer:

A balloon mortgage is a type of a loan that requires the borrower to make the payment as a lump-sum at the maturity period while under the ARM the borrower is allowed to choose the small periodic payments suitable for both the lender and the borrower.  

ARM is the abbreviation for Adjustable Rate Mortgage. therefore the loan repayment changes according to agreement between the lender and the  borrower.

4 0
3 years ago
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If you sell only one or just a few items your business is
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Answer:

selling half

Explanation:

because your not selling everything so not all

5 0
3 years ago
Why delegate authority and not responsibility​
MArishka [77]

Answer:

Authorities can be assigned, but never delegated obligations. Subordinates are responsible for "results" and managers are responsible for their subordinates ' actions. You can't be held responsible for a mission if you have little competence.

Explanation:

The delegation lets you pass the power to professional team members to work on more urgent matters. But you are still responsible for doing these in the right way. It is therefore necessary to periodically track the status or interact with the team member

Let us recognize some of the fundamental principles to be observed in delegating: 1. The delegated authority to subordinates should be adequate to achieve the desired performance.

2. The power may be delegated but never assigned responsibility. Subordinate accountability is "efficiency" and managers are "responsible for their subordinates ' activities."

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4. A single superior's presence brings to mind the subordinate more personally responsible.

8 0
3 years ago
Jason and Katrina work on the loading dock for Longhaul Transport Company. Jason has a disability. Katrina has seniority. Jason
SSSSS [86.1K]

Answer:

Katrina's seniority is a good defense.

Explanation:

Industrial Jurisprudence

This is refered to as a system of rules and regulations that is used by labor and management fashion to show their specific employment rights and obligations in the work environment.

Seniority System

This is refered to as different rules and procedures usually within an agreement that shows the allocation of certain job situations including promotion, layoff and recall, as well as certain economic benefits based on length of service. This is application to many organizations.

Seniority

This very important measure of employee job security and it start with acquiring seniority on the date & time of hire (cannot be awarded until completion of probationary period).

Jason may lose the case as a result of the seniority system.

5 0
3 years ago
Breyer's introduced for sale a new line of ice cream flavors in elegant black containers. This was done on a limited scale to de
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Answer: market testing      

                                     

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