he operating expense recorded from uncollectible receivables can be called all of the following except c. bad receivables expense.
Customers' outstanding debts for goods or services they have received but haven't yet paid for are referred to as accounts receivable. For instance, the amount owing when clients buy things on credit is added to the accounts receivable. It is a debt incurred as a result of a commercial transaction.
The term "accounts receivable" describes the unpaid bills or cash that customers owe a business. The term describes accounts that a company is entitled to get since it has provided a good or service.
Receivables, also known as accounts receivable, are a company's line of credit that typically include terms that call for payments to be made within a somewhat short time frame. Usually, it varies from a few days to a fiscal or calendar year.
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Answer and Explanation:
The journal entry is shown below:
Cash Dr $98,800
Finance charge Dr ($120,000 × 1%) $1,200
To Liability - Financing Arrangement $100,000
(being receipts of cash is recorded)
Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance
Answer:
fall, rise
Explanation:
US goods will become less expensive
