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
FromTheMoon [43]
2 years ago
6

At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $302,000 and in Allowance for Uncollectible A

ccounts of $940 (credit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 6% of accounts receivable. Bad debt expense for the year should be:
Business
1 answer:
marin [14]2 years ago
7 0

Answer:

$5,230

Explanation:

Account receivable balance = $310,000

Credit balance in allowance for uncollectible accounts = $970

Given percentage = 2%

So by considering the above information, the bad debt expense is

= Account receivable balance × given percentage - credit balance in allowance for uncollectible accounts

= $310,000 × 2% - $970

= $6,200 - $970

= $5,230

You might be interested in
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for
Reika [66]

Answer and Explanation:

The computation of the amount is shown below:

a. For FOB destination

=  Merchandise price - Returns and allowances - discount

= $6,700 - $1,750 - ($6,700  - $1,750 )× 2%

= $6,700 - $1,750 - $99

= $4,851

b. For FOB shipping point

= Merchandise price - Returns and allowances - discount + Freight In

= $3,300 - $1,200 - ($3,300 - $1,200) × 1% + $200

= $3,300 - $1,200 - $21 + $200

= $2,279

7 0
3 years ago
Zach is employed by Scott Paper Company and is a key account manager on the WalMart team based in Bentonville, AR so he can be n
Travka [436]

Answer: d. channel captain

Explanation:

Channel captains as the term implies, are in charge of a good's distribution channel such that they are to coordinate things to ensure that the good keeps being traded efficiently.

They are responsible for coordinating vendors, and maintaining relationships necessary to keep the good moving. They are also to report on their activities with a view towards expansion. This is what Zach does therefore he is a channel captain.

6 0
2 years ago
Carl is unemployed because he was laid off from his construction job when the housing market crashed. this is an example of fric
Elan Coil [88]

cyclical unemployment

5 0
2 years ago
The previous value of a portfolio that must be regained before a hedge fund can charge their investors performance fees is known
Margarita [4]

Answer:

high watermark

Explanation:

A high watermark refers to the mark at which the investment could be reached at a high peak. It to be calculated on that date when the performance fees are charged and it could be charged only on that case when there is a rise in the value of the portfolio

Moreover,  in the high watermarks there is no need to pay the performance based fee when there is a poor performance

Therefore the given situation represent the high watermark

4 0
3 years ago
Which crime is BEST represented by the following situation?
Shtirlitz [24]

Answer:

The answer is C. Money Laundering

Explanation:

Solution

From the question stated it can be described as a crime of money laundering.

Money laundering involves the use of illegally obtained money for legitimate purposes.

In this scenario, Jeff uses $15,000 from his illegal sales of drug paraphernalia for setting up a toy store. The origin of the money, which was obtained through illegal method was hidden.

Robbery and larceny are examples of theft that involves stealing items of value from another person. Embezzlement is also a kind of theft. It involves withholding of items with the intention of theft .

4 0
3 years ago
Other questions:
  • Western Company is preparing a cash budget for June. The company has $11,200 in cash at the beginning of June and anticipates $3
    15·1 answer
  • Which is the biggest company in Germany?
    9·1 answer
  • This days shout out is for millytilltip and alex and itscharleyo if you guys want to be in a shout out on brainly pls friend me
    9·2 answers
  • A medical researcher suggests that the new flu shot will prevent all forms of the flu, but it was never tested or proved to be t
    14·1 answer
  • The following does not describe the matching principle
    15·1 answer
  • A contractor who agrees to undertake work without being under the direct control or direction of another and is personally respo
    10·1 answer
  • Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1) type of adjustment (prepa
    14·1 answer
  • Caroline, the store manager at a jewelry store, conducts statewide market research and collects data on customer preferences tow
    12·1 answer
  • Using an advertising agency is a cost-effective way for a small business to advertise its products or services.
    6·1 answer
  • Find the present value of $19,000 in 11 months at 5.1% interest
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!