Creek Co. uses the percentage of credit sales method in determining its bad debt expense. The following information comes from the accounting records of Creek Co:
Cash sales $250,000
Credit sales 750,000
Total sales 1,000,000
Credit balance in the Allowance for Doubtful Accounts 2,000
Bad debt loss rate 3%
What is the estimate of bad debt expense?
a. $30,000.
b. $22.500.
c. $28,000.
d. $24,500.
Answers: 3
Business, 22.06.2019 01:30
Iam trying to get more members on my blog. how do i do that?
Answers: 2
Business, 22.06.2019 10:30
Which analyst position analyzes information using mathematical models to business managers make decisions? -budget analyst -management analyst -credit analyst -operations research analyst
Answers: 1
Business, 22.06.2019 14:30
If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided
Answers: 1
Business, 22.06.2019 16:00
What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.
Answers: 1
Creek Co. uses the percentage of credit sales method in determining its bad debt expense. The follow...
Mathematics, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
Biology, 01.06.2020 12:57
History, 01.06.2020 12:57
Chemistry, 01.06.2020 12:57
English, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
Mathematics, 01.06.2020 12:57
History, 01.06.2020 12:57