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
Galina-37 [17]
2 years ago
7

Accounts Randall Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various ag

e groups of the accounts. Randall calculated a total of $3,000 in possible credit losses as of December 31. Accounts Receivable has a balance of $128,000, and the Allowance for Doubtful Accounts has a credit balance of $500 before adjustment at December 31. What is the December 31 adjusting entry to provide for credit losses
Business
1 answer:
Crazy boy [7]2 years ago
8 0

Answer:

Explanation:

The journal entry will be:

Debit: Bad debt expense $2500

Credit: Allowance for doubtful $2500

Then, we will calculate the net amount of account receivable that should be included in current assets which will be:

Account receivable = $128000

Less: Allowance for doubtful = $500 + $2500 = $3000

Net amount of account receivable = $125000

You might be interested in
when an organization produces only a single product and attempts to sell it to two or more market segments, it avoids which cost
weqwewe [10]

When an organization produces only a single product or service and attempts to sell it to two or more market segments. It avoids the extra costs of developing and producing additional versions of the product.

For better understanding, lets explain the term

  • Market segmentation is simply known as the act of gathering or aggregating known buyers into groups that have common needs and will respond almost the same to a marketing action.
  • Organization that makes only a single product or service do try to avoids any extra costs that may arise because they want to focus on just one thing

From the above, we can therefore say that the answer When an organization produces only a single product or service and attempts to sell it to two or more market segments. It avoids tahe extra costs of developing and producing additional versions of the product.

Learn more from:

brainly.com/question/14950217

3 0
2 years ago
RAWRRRRRRRRR Whahahaha​
____ [38]

Explanation:

wow

I see you are interested in horror movies

3 0
2 years ago
The balance sheet category "Intangible Assets" includes:
AnnyKZ [126]

Answer:

b. patents, trademarks, and franchises. 

Explanation:

Intangible assets are assets that aren't physical, they cannot be seen.

Examples of intangible assets are goodwill, patents, trademarks, and franchises. 

8 0
2 years ago
Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is
Charra [1.4K]

Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

Explanation:

Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 \times $70 = $69,300

Actual Sales Revenue = 990 \times $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

3 0
3 years ago
Why is it important for organizations and their managers to pay close attention to fair employment practices?
klio [65]

Answer:

Organizations and managers should pay close attention to fair employment practice so as to reduce the level of incompetent staffs at work.

Explanation:

4 0
3 years ago
Read 2 more answers
Other questions:
  • Caroline is conducting a share point analysis for Bloomingdale's. First, she estimates total industry sales by compiling a list
    6·1 answer
  • Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
    14·1 answer
  • Can someone tell me the correct answer? Plz...I’ll give points.
    15·1 answer
  • When a factory is operating in the short run,
    7·1 answer
  • An investor purchases a share of stock today for $27.50 and holds it for a year. During the year the stock pays $4.50 in dividen
    10·1 answer
  • Xin Co., had 3,000 units of work in process on April 1 that were 60% complete. During April, 10,000 units were completed and as
    9·1 answer
  • What is true about economic resources? A) Economic resources include only money. B) Economic resources are limited. C) Economic
    9·2 answers
  • The two factors that are most important in determining the density of air are:
    7·1 answer
  • You are looking for part-time employment and posted your rĂ©sumĂ© to an online job site. One day you receive an e-mail from a co
    14·1 answer
  • A period during which aggregate output rises is known as a(n)
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!