Business, 21.12.2019 05:31 deibilopez4

On december 31, management had determined that it would not be able to collect the $1,200 owed to it by one of its customers. on jan 15 in the next year, a check in the amount of $600 was unexpectedly received from this customer. management does not expect any future collections from this customer. the company uses the allowance method to account for its uncollectible accounts. prepare the necessary journal entry on january 15 to record the events by selecting the account names.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 12:10, gingerham1

Laws corporation is considering the purchase of a machine costing $16,000. estimated cash savings from using the new machine are $4,120 per year. the machine will have no salvage value at the end of its useful life of six years and the required rate of return for laws corporation is 12%. the machine's internal rate of return is closest to (ignore income taxes) (a) 12% (b) 14% (c) 16% (d) 18%

Answers: 1

continue

Business, 22.06.2019 17:40, lukecoupland4401

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Answers: 3

continue

Business, 23.06.2019 02:30, chriscook1466

For the year ended december 31, 2019, davidson mart had sales of $ 550 comma 000 and cost of goods sold of $ 412 comma 500. davidson estimates that approximately 2% of the merchandise sold will be returned. the adjusting journal entry on december 31, 2019, would include a

Answers: 3

continue

Business, 23.06.2019 08:00, michellebreshears451

Whom do progressive taxes assess? a. only a large percentage of high-income households b. only a large percentage of organizations c. a large percentage of high-income households and organizations d. a large percentage of low-income households e. a small percentage of high-income households

Answers: 1

continue

You know the right answer?

On december 31, management had determined that it would not be able to collect the $1,200 owed to it...