The following information is provided: Unadjusted balance in Allowance for Doubtful Accounts $1,100 (debit) Accounts Receivable, December 31 245,500 Sales Returns and Allowances 5,500 Sales 850,000 Sales Discounts 15,000 Required: 1. Prepare the adjusting entry if bad debts are estimated to be 1.5% of net sales. 2. Compute the amount of the adjusting entry if bad debts are estimated to be 3% of ending accounts receivable.

Side bar toggle icon performance in last 10 qs hard easy performance in last 10 questions - there are '3' correct answers, '3' wrong answers, '0' skipped answers, '1' partially correct answers about this question question difficulty difficulty 60% 42.2% students got it correct study this topic • demonstrate an understanding of sampling distributions question number q 3.8: choose the correct estimate for the standard error using the 95% rule.

Assume that the following conditions exist: a. all banks are fully loaned up- there are no excess reserves, and desired excess reserves are always zero. b. the money multiplier is 5 .     c. the planned investment schedule is such that at a 4 percent rate of interest, investment =$1450 billion. at 5 percent, investment is $1420 billion. d. the investment multiplier is 3 . e.. the initial equilibrium level of real gdp is $12 trillion. f. the equilibrium rate of interest is 4 percent now the fed engages in contractionary monetary policy. it sells $1 billion worth of bonds, which reduces the money supply, which in turn raises the market rate of interest by 1 percentage point. calculate the decrease in money supply after fed's sale of bonds: $nothing billion.

Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase