subject
Business, 09.12.2021 02:00 emilyplays474

A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $ 349,000 debit Allowance for uncollectible accounts 660 debit Net Sales 794,000 credit All sales are made on credit. Based on past experience, the company estimates that 0. 6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 13:10
Orange corporation issued 20-year, noncallable, 7.5% annual coupon bonds at their par value of $1,000 one year ago. today, the market interest rate on these bonds is 5.5%. what is the current price of the bonds, given that they now have 19 years to maturity?
Answers: 3
question
Business, 22.06.2019 20:30
1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19
Answers: 1
question
Business, 22.06.2019 20:40
Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.
Answers: 2
question
Business, 23.06.2019 02:30
When the price of pencils increases from $1.50 to $2.50, there is an increase in quantity demanded of pens from 100 to 150. the cross-price elasticity of demand between pencils and pens is: ?
Answers: 3
You know the right answer?
A company uses the percent of sales method to determine its bad debts expense. At the end of the cur...
Questions
question
Mathematics, 19.04.2021 14:00
question
Geography, 19.04.2021 14:00
Questions on the website: 13722363