Utopia Corporation provides $6,000 worth of lawn care on account during the month. Experience suggests that about 3% of net credit sales will not be collected. To record the potential bad debts, Utopia Corporation would debit:

Journal Entry

Explanation:

The Journal Entry is shown below:-

Bad debt expense Dr,               $180

         To Accounts receivable            $180

(Being bad debt expenses is recorded)

Working Note:-

Bad debt expense = $6,000 × 3% = $180 is estimated

Therefore for recording the bad debt expenses we debited bad debt and credited accounts receivable.

d. low interest rates

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.