Cook Co. determined that the net value of its accounts receivable at December 31, year 5, based on an aging of the receivables, was $235,000. Additional information is as follows: Allowance for doubtful accounts – 1/1/year 5 $ 40,000 Uncollectible accounts written off during year 5 $ 22,000 Uncollectible accounts recovered during year 5 $ 8,000 Accounts receivable at 12/31/year 5 $ 270,000 How much was recognized as bad debt expense?
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Business, 22.06.2019 09:40
As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?
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Driving would be more pleasant if we didn't have to put up with the bad habits of other drivers. a newspaper reported the results of a valvoline oil company survey of 500 drivers in which the drivers marked their complaints about other drivers. the top complaints turned out to be tailgating, marked by 24% of the respondents; not using turn signals, marked by 19%; being cut off, marked by 15%; other drivers driving too slowly, marked by 12%; and other drivers being inconsiderate marked by 5%.
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Cook Co. determined that the net value of its accounts receivable at December 31, year 5, based on a...
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