Business, 24.07.2020 17:01 justinjoyner12p5ox1r
The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense.
Accounts receivable $438,000 Debit
Allowance for Doubtful Accounts 1,280 Debit
Net Sales 2,130,000
Credit All sales are made on credit. Based on past experience, the company estimates 1.0% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
a. Debit Bad Debts Expense $20,020; credit Allowance for Doubtful Accounts $20,020.
b. Debit Bad Debts Expense $22,580; credit Allowance for Doubtful Accounts $22,580.
c. Debit Bad Debts Expense $21,300; credit Allowance for Doubtful Accounts $21,300.
d. Debit Bad Debts Expense $4,380; credit Allowance for Doubtful Accounts $4,380.
e. Debit Bad Debts Expense $5,660; credit Allowance for Doubtful Accounts $5,660.
Answers: 1
Business, 22.06.2019 04:30
4. the condition requires that only one of the selected criteria be true for a record to be displayed.
Answers: 1
Business, 22.06.2019 08:00
3. describe the purpose of the sec. (1-4 sentences. 2.0 points)
Answers: 3
Business, 22.06.2019 10:30
Issued to the joint planning and execution community (jpec) initiates the development of coas; it also requests that the supported ccdr submit a commander's estimate of the situation with a recommended coa to resolve the situation (joint force command and staff participation in the joint operation planning and execution system, page 10)
Answers: 2
The following selected amounts are reported on the year-end unadjusted trial balance report for a co...
Biology, 06.07.2019 06:00
Social Studies, 06.07.2019 06:00
English, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Advanced Placement (AP), 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Chemistry, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00
Mathematics, 06.07.2019 06:00