Business, 27.05.2020 22:00 weeblordd

Wren Company had the following account balances at December 31, Year 1: Accounts receivable $ 900,000 Allowance for doubtful accounts before any provision for Year 1 doubtful accounts expense) 16,000 Credit sales for Year 1 1,750,000 Wren is considering the following method of estimating doubtful accounts expense for year 1: • Based on credit sales at 2% • Based on accounts receivable at 5% What amount should Wren charge to doubtful accounts expense under each method? Percentage of credit sales Percentage of accounts receivable

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, Dericktopsom

Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money

Answers: 1

continue

Business, 22.06.2019 00:10, wolfycatsz74

Which of the following is a problem for the production of public goods?

Answers: 2

continue

Business, 22.06.2019 09:40, MileenaKitana

Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?

Answers: 2

continue

Business, 22.06.2019 21:10, stephany94

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i. e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?

Answers: 1

continue

You know the right answer?

Wren Company had the following account balances at December 31, Year 1: Accounts receivable $ 900,00...