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
11Alexandr11 [23.1K]
3 years ago
15

Indicate the accounts affected and enter decreases to account categories with a minus sign. a. At the end of the period, bad deb

t expense is estimated to be $15,000. b. During the period, bad debts are written off in the amount of $9,500.
Business
1 answer:
EastWind [94]3 years ago
5 0

Answer:

Explanation:

a. At the end of the period, bad debt expense is estimated to be $15,000.

b. During the period, bad debts are written off in the amount of $9,500.

  Assets          =                             Liabilities    +     Stockholder's Equity

a.

                                                                               Retained Earning -$15,000

Account Receivable  -$15,000

b.

Allowance for Doubtful Account -$9,500

Account Receivable -$9,500

(Allowance for Doubtful Account is a contra account to account receivable decrease in this account will ultimately increase the assets value.

You might be interested in
How do trade agreements help the countries involved?
devlian [24]
They are at a standstill with each other and can make business happen with each other. Therefore they're like associates or friends working together to better themselves.
3 0
2 years ago
Libre, Inc. has experienced bad debt losses of 5% of credit sales in prior periods. At the end of the year, the balance of Accou
Mama L [17]

Answer:

The estimated bad debt expense for the year amounts to $9,400

Explanation:

The  estimated bad debt expense  for the year is computed as:

As the percentage of credit sales method is used for estimating the bad debt expense. Therefore, it is computed as:

Bad debt expense = Net Credit Sales × Estimate Percent

where

Net credit sales amounts to $188,000

Estimate percent is 5%

So, putting the values above:

Bad debt expense = $188,000 × 5%

Bad debt expense = $9,400

Therefore, the bad debt expense amounts to $9,400

3 0
3 years ago
Which of the following forms of communication has the most impact during your interview? a. Nonverbal b. Verbal c. Voice quality
Alex
Being verbal during an interview is a important thing <span />
8 0
3 years ago
Read 2 more answers
What is the best way to spot a profitable ICO?
maksim [4K]
The world of ICO’s is a hectic one; new projects are announced every day and it’s getting harder to separate brilliant ideas from cleverly designed frauds. However, there are special ICO listing sites, which provide ratings and in-depth reviews of the hottest ICOs around. There several of these sites, but I personally prefer ICOAnatomy.com, as its easy to navigate and has a wealth of crypto-related info.
4 0
3 years ago
On June 1, 2016, Enne Brahtz Corporation received $3,600 as advance payment for 12 months' advertising. The receipt was recorded
Simora [160]

Answer:

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Explanation:

The adjusting entry is shown below;

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account

The six months could be computed from June 1 to December 31

8 0
3 years ago
Other questions:
  • Acme Corporation (Scenario) Acme Corporation's management feels that employees could be more motivated by their jobs. The jobs w
    14·1 answer
  • If 99 million people are working and 1 million are unemployed but actively seeking work, then the unemployment rate is ________.
    14·1 answer
  • Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most li
    14·1 answer
  • Why were women paid lower wages than men for doing the same work?
    11·1 answer
  • The Holmes Company's currently outstanding bonds have an 8% coupon and a 10% yield to maturity. Holmes believes it could issue n
    12·1 answer
  • Rendezvous Cafe's suit against Sanitary Waste Services, Inc., the court issues a judgment in Rendezvous's favor. The judgment ca
    12·1 answer
  • At the annual shareholders' meeting of Garfield, Inc., one shareholder turned to the other and whispered, "Our CEO, Mike Perez,
    13·1 answer
  • Assume that the quantity of X is measured on the horizontal axis, and the quantity of Y is measured on the vertical axis. Assume
    13·1 answer
  • Which 2 statements are true about payment links in QuickBooks<br> Online?
    10·1 answer
  • Which symbol should you use for entering a formula in a cell?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!