Business, 24.03.2021 03:40 gunnatvinson

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,835,000 and sales for the year total $25,690,000.

The allowance account before adjustment has a debit balance of $12,500. Bad debt expense is estimated at 1/2 of 1% of sales.
The allowance account before adjustment has a debit balance of $12,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $162,000.
The allowance account before adjustment has a credit balance of $26,810. Bad debt expense is estimated at 3/4 of 1% of sales.
The allowance account before adjustment has a credit balance of $26,810. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $171,200.
Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 15:40

Plz i have no idea what a cover letter is can u guys explain it to me write a letter to the address below. you are responding to an advertisement from the willamette company for a job opening as an office assistant. you did some research and learned that the person to whom the application should be sent is ms. katrina n. d. waives. you are going to enclose a résumé and three letters of reference. your résumé will have details about your qualifications, so you should just give a brief but inviting overview of them here. in addition, your letter will include a very important paragraph that is not normally a part of a business letter. you will tell what format you are using for your letter where you got the information on this format. address of the willamette company: 355 buck hill road, portland, oregon 48792.

Answers: 1

Answer

Business, 22.06.2019 14:30

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

Answers: 1

Answer

Business, 22.06.2019 17:30

Aproject currently generates sales of $14 million, variable costs equal 50% of sales, and fixed costs are $2.8 million. the firm’s tax rate is 40%. assume all sales and expenses are cash items. (a). what are the effects on cash flow, if sales increase from $14 million to $15.4 million? (input the amount as positive value. enter your answer in dollars not in (b) what are the effects on cash flow, if variable costs increase to 60% of sales? (input the amount as positive value. enter your answers in dollars not in millions). cash flow (increase or decrease) by $

Answers: 2

Answer

Business, 22.06.2019 20:00

With the slowdown of business, how can starbucks ensure that the importance of leadership development does not get overlooked?

Answers: 3

Answer

You know the right answer?

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

Questions