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sattari [20]
3 years ago
8

Gregg Company uses the allowance method for recording its expected credit losses. It estimated credit losses at three percent of

credit sales, which were $900,000 during the year. On December 31, the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts has a credit balance of $12,200 before adjustment.
Required:
a. Prepare the adjusting entry to record the credit losses for the year
b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet.
Business
1 answer:
Burka [1]3 years ago
8 0

Answer:

ftyvybbybthhhhhfhfhfhfhf

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Steve’s Outdoor Company purchased a new delivery van on January 1 for $47,000 plus $4,000 in sales tax. The company paid $13,000
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Sorry idk the answers i’m just trying to ask my questions... sorry
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3 years ago
When a life insurance company advertises the safety and security of its products, it is using a ________ advertising strategy.
horrorfan [7]

I believe the answer is: C. persuasive

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3 years ago
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Suppose the U.S. Treasury offers to sell you a bond for $687.25. No payments will be made until the bond matures 5 years from no
pantera1 [17]

Answer:

6%

Explanation:

Data provided as per question is as given below:-

Redeemed amount = $1,000

Sale value of Bond = $687.25

Number of year = 5

The computation of interest rate is as shown below:-

Interest rate = (Redeemed amount ÷ Sale value of bond) ^ (1 ÷ Number of Year) - 1

= (1,000 ÷ 747.25) ^ (1 ÷ 5) - 1

= (1.338) ^ (0.2) - 1

= 0.06

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5 0
2 years ago
According to the video, did the Federal Reserve pursue
zaharov [31]

Answer:

The Federal Reserve took an expansionary approach during the crisis. This was done by expanding the money supply and boosting liquidity. This can be seen in the Fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. The Fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.

Explanation:

5 0
3 years ago
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Which type of agreement assures that a broker will receive compensation regardless of who procures the buyer?a. Net listingb. Ex
natita [175]

Answer:

b. Exclusive right to sell

Explanation:

-Net listing is when the agent is able to keep the difference when a property is sold for more than the asking price.

-Exclusive right to sell is when the seller gives the agent the right to market the property and accepts to pay the comission to the agent if the property is sold during the period of the listing.

-Open listing is when a property has different agents and the one that gets the buyer receives the comission.

-Exclusive agency is when the seller gives an agent the right to market a property but the seller is able to sell the property to a buyer that was not found by the agent and in that case, the seller doesn't have to pay the comission to the agent.

According to this, the answer is that the type of agreement that assures that a broker will receive compensation regardless of who procures the buyer is exclusive right to sell because the agent is granted the right to sell the property and the seller agrees to pay the comission if the property is sold during the time of the listing last and it doesn't matter who finds the buyer.

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3 years ago
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