Sarasota Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,800 Allowance for Doubtful Accounts $2,810 Sales Revenue (all on credit) 806,700 Sales Returns and Allowances 51,060 Prepare the journal entry to record bad debt expense assuming Sarasota Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,480 debit balance.
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Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?
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Sarasota Company reports the following financial information before adjustments. Dr. Cr. Accounts Re...
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