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
Vaselesa [24]
3 years ago
8

On August 31​, 2018​, Melrose Floral Supply had a $ 145 comma 000 debit balance in Accounts Receivable and a $ 5 comma 800 credi

t balance in Allowance for Bad Debts. During September​, Melrose ​made: times Sales on​ account, $ 540 comma 000. Ignore Cost of Goods Sold. times Collections on​ account, $ 581 comma 000. times ​Write-offs of uncollectible​ receivables, $ 5 comma 000.
Business
1 answer:
tekilochka [14]3 years ago
4 0

Answer:

Accounts receivables 540,000 debit

                 Sales revenues          540,000 credit

Cash                            581,000 debit

       Accounts Receivables   581,000 credit

Allowance for bad debt 5,000 debit

       Account receivables        5,000 credit

Bad debt expense      16,200 debit

      Allowance for bad debt   16,200 credit

Question: journalize September events and reocgnize the bad dbet expense assuming 3% of credit sales

Explanation:

We need to record the events during september:

the sales on account will increase Account Receivables.

The collection decrease it.

The write-off under the allowance method will not reocngize any expense We decrease the accounts receivable agains t the allowance for the full amount

<u>the expected bad debt on credit sale is 3%</u>

540,000 x 3% = 16,200

this increase the allowance and declares the bad debt expense associate with the sales of the period

You might be interested in
This​ video, carl describes​ paas, a type of cloud computing in which the customer provides the application software and​ data,
stepan [7]

Cloud computing company provides the information

8 0
3 years ago
Pepsi Cola has entered into a long-term contract with a South African beverage business. The contract calls for the South Africa
Helen [10]

Answer:

<u>Licensing </u> is the correct answer.

Explanation:

Licensing is defined as a trade agreement between a company that gives another company authorization to manufacture its product by contract and payment of royalties for the use of the right to use the trademark.

Companies generally license: design, patents, trademarks, copyrights and others whose purpose is to assist in increasing profitability and expanding business.

Despite being a very profitable strategy worldwide, product licensing is not crucial to a company's success, despite the ease of marketing a product or brand already consolidated and valued by the consumer, it is necessary to ensure compliance in production processes. and focus on marketing and sales.

8 0
3 years ago
The advantages of partnerships include ease of start-up, shared decision making and a larger pool of capital. true or false
iVinArrow [24]
The answer would be: True

4 0
3 years ago
Astrid currently consumes only milk and honey. She drinks four quarts of milk priced at $3 per quart and gets 30 utils for the l
asambeis [7]

Answer:

Yes, the Astrid maximizing her utility

Explanation:

Given that

Utils for the last quart = 30

Per quart = $3

Honey price = $0.75

Utils of Last jar = 7.5

The calculation of maximum utility is given below:-

Per dollar utility gained by milk

= 30 ÷ 3

= 10 utils

Milk utility for $0.75

= 30 ÷ 3 × $0.75

= 7.5 utils

Therefore from the last quart the utility was same and the dollars was spent in last jar. So, Astrid can maximizing her utility.

4 0
3 years ago
Market share refers to ______.
Rufina [12.5K]

Answer:

<u>(B) </u>the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

Explanation:

market share refers to :

(B) the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Invested Capital Corporation provides other firms with funds to expand operations. If Invested Capital strictly complies with ex
    13·1 answer
  • Which one of the following statements is true? a. A manufacturing company will normally have raw materials, work in process, and
    13·1 answer
  • The materials used by the Holly Company's Division A are currently purchased from an outside supplier. Division B is able to sup
    8·1 answer
  • 3. What is dollar voting? How can it affect the launch of the franchise into the new region?
    5·1 answer
  • What is the award recieved after completing a four year undergrad program called?
    10·1 answer
  • The envelope method, notebook and pencil, and online
    8·1 answer
  • Pamela, a 1/3 partner, has an adjusted basis of $100,000 for her partnership interest. If Pamela sells her entire partnership in
    6·1 answer
  • Irene wants to make a copy of a housing design from a magazine. Which tool does she require? A.
    12·1 answer
  • Roberts, which began business at the start of the current year, had the following data:Planned and actual production: 40,000 uni
    12·1 answer
  • a 2-year treasury security currently earns 6.75 percent. over the next two years,the real interest rate is expected to be 3.18 p
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!