Business, 09.12.2019 22:31 bdbsjncns

Santana rey, owner of business solutions, realizes that she needs to begin accounting for bad debts expense. assume that business solutions has total revenues of $51,000 during the first three months of 2020, and that the accounts receivable balance on march 31, 2020, is $22,417.required
1. prepare the adjusting entry needed for business solutions to recognize bad debts expense on march
31, 2012, under each of the following independent assumptions (assume a zero unadjusted balance in
the allowance for doubtful accounts at march 31).
a. bad debts are estimated to be 1% of total revenues. (round amounts to the dollar.)
b. bad debts are estimated to be 2% of accounts receivable. (round amounts to the dollar.)
2. assume that business solutions

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 10:10, sydc1215

At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:

Answers: 1

continue

Business, 22.06.2019 12:20, ohgeezy

Consider 8.5 percent swiss franc/u. s. dollar dual-currency bonds that pay $666.67 at maturity per sf1,000 of par value. it sells at par. what is the implicit sf/$ exchange rate at maturity? will the investor be better or worse off at maturity if the actual sf/$ exchange rate is sf1.35/$1.00

Answers: 2

continue

Business, 22.06.2019 17:30, dani4685

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.

Answers: 2

continue

Business, 22.06.2019 19:30, jeanlucceltrick09

Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?

Answers: 3

continue

You know the right answer?

Santana rey, owner of business solutions, realizes that she needs to begin accounting for bad debts...