Business, 02.06.2021 18:50 inglehailey
Psi Company made $250,000 in sales of which $200,000 were on credit. Prior experience indicates
that 2% of all credit sales will not be collected. What is the entry to record the estimated
uncollectible accounts?
During the year, an account with a balance of $4,000 was written off as a bad debt. What is the
write-off entry?
During the year, an account with a balance of $4,000 was written off as a bad debt. What is the
write-off entry?
Psi Company started the year with an accounts receivable balance of $50,000. The credit sales of
$200,000 were also made. Collections on account were $230,000. Prior experience indicates that
2% of the ending accounts receivable balance will not be collected. What is the entry to record the
estimated uncollectible accounts?
Answers: 1
Business, 21.06.2019 22:50
He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800
Answers: 1
Business, 22.06.2019 16:10
The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:
Answers: 1
Business, 22.06.2019 22:00
Which of the following statements about nonverbal communication is most accurate? a. the meanings of some gestures can vary among cultures b. the way an e-mail, letter, memo, or report looks can have either a positive or a negative effect on a receiver c. the manner in which we structure and use time can reveal our personalities and attitudes d. all statements are accurate
Answers: 1
Psi Company made $250,000 in sales of which $200,000 were on credit. Prior experience indicates
tha...
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