Answer:
Debit Allowance for doubtful debts $1,200
Credit Accounts receivable $1,200
Being entries to write off uncollectible debt on December 1
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Answer:
Explanation:
I will be starting with the similarities first. 3 of the similarities both of them share are
1) They both have a financial leverage that is quite high
2) they both can be subjected to national oversight as regards to their balance sheet quality.
3) they both are institutions that accepts funds and also gives out funds to finance commercial firms
Moving on to the differences, differences that exists between both includes
1) Insurance companies can are invest in stock markets but depository institutions do not have that leverage.
2) Insurance companies do not have fixed composition of liabilities, while depository institutions have.
3)
Leasing allows business owners to forecast cash flows more ACCURATELY, because lease payment are FIXED amount paid over a particular time period.
Leasing involves paying a specified amount of money monthly or yearly for use of a particular landed property. Leasing fees are usually fixed in amount and this allows one to accurately calculate how much money one can expect from this source of revenue.
The Italian government can increase the efficiency of its effluent system by becoming creating a law that makes it illegal to smoke in smoke-free zones.
<h3>What is an Effluent?</h3>
This refers to wastes that are secreted or released into the air, water, or underground channels.
Examples of effluents are:
- Liquid factory waste
- Smoke
- Sewage etc.
See the link below for more about the effluent system:
brainly.com/question/6277954
