Business, 07.04.2020 17:40 Elenegoggg
Kingston Co. uses the percentage-of-receivables basis to record bad debt expense. It estimates that 2% of accounts receivable will become uncollectible. Accounts receivable are $584,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,900. Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit If the allowance for doubtful accounts had a debit balance of $970 instead of a credit balance of $1,900, determine the amount to be reported for bad debt expense.
Answers: 3
Business, 22.06.2019 16:40
Differentiate between the trait, behavioral, and results-based performance appraisal systems, providing an example where each would be most applicable.
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Business, 23.06.2019 00:00
The undress company produces a dress that women use to quickly and easily change in public. the company is just over a year old and has been successful through a kickstarter campaign. the undress company has identified a customer segment, but if it wants to reach a larger customer segment market outside of the kickstarter family, what question must it answer?
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Business, 23.06.2019 01:00
Corporation had a japanese yen receivable resulting from exports to japan and a brazilian real payable resulting from imports from brazil. gracie recorded foreign exchange gains related to both its yen receivable and real payable. did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date?
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Kingston Co. uses the percentage-of-receivables basis to record bad debt expense. It estimates that...
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