The Accounts Receivable balance for Bach Consulting is $4,400,000 as of May 31, 2020. Before calculating and recording the month’s bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of $80,000. The May 2020 net sales were $30,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a $360,000 estimate for the Allowance for Doubtful Accounts as of May 31, 2020. PART A: PERCENT OF SALES METHOD

Assume that Bach Consulting uses the percent of sales method to estimate future uncollectible accounts.

What adjusting entry does Bach make to record May 2020 Bad Debt Expense?
What is "Accounts Receivable, net" on Bach’s May 31, 2018 Balance Sheet? $
What is "Bad Debt Expense" on Bach’s May 2020 Income Statement? $
PART B: ANALYSIS OF RECEIVABLES METHOD

Assume that Bach Consulting instead uses the analysis of receivables method to estimate future uncollectible accounts.

What adjusting entry does Bach make to record May 2020 Bad Debt Expense?
What is "Accounts Receivable, net" on Bach’s May 31, 2018 Balance Sheet? $
What is "Bad Debt Expense" on Bach’s May 2020 Income Statement? $
Problem 3

Use PVH Corp.’s financial statement information to answer the following questions.

Provide the following account balances for PVH:
February 2, 2020

February 3, 2019

Accounts Receivable (gross)

Allowance for Doubtful Accounts

Accounts Receivable, net

Which of the above numbers represents the amount of its February 2, 2020 Accounts Receivable balance that PVH expects to collect in the subsequent year(s)?
Which of the above numbers represents that amount that PVH believes it will not collect from its customers as of February 2, 2020?
Which of the above numbers represents the total amount PVH is owed by customers as of February 2, 2020?
Provide the journal entry (both accounts and amounts) that PVH must have made to record its estimate of Bad Debt Expense in fiscal year 2019.
Provide the journal entry (both accounts and amounts) that PVH must have made to record Accounts Receivable writeoffs in fiscal year 2019.

Assume that Bach Consulting uses the percent of sales method to estimate future uncollectible accounts.

What adjusting entry does Bach make to record May 2020 Bad Debt Expense?

Dr Bad debt expense 300,000 (= $30,000,000 x 1%)

    Cr Allowance for doubtful accounts 300,000

What is "Accounts Receivable, net" on Bach’s May 31, 2018 Balance Sheet? $4,100,000 (=  $4,400,000 - $300,000)

What is "Bad Debt Expense" on Bach’s May 2020 Income Statement? $300,000

Assume that Bach Consulting instead uses the analysis of receivables method to estimate future uncollectible accounts.

What adjusting entry does Bach make to record May 2020 Bad Debt Expense?

Dr Bad debt expense 280,000 (= $360,000 - $80,000)

    Cr Allowance for doubtful accounts 280,000

What is "Accounts Receivable, net" on Bach’s May 31, 2018 Balance Sheet? $4,120,000

What is "Bad Debt Expense" on Bach’s May 2020 Income Statement? $280,000

Use PVH Corp.’s financial statement information to answer the following questions.

Provide the following account balances for PVH:

                                                  February 2, 2020       February 3, 2019

Accounts Receivable (gross)        $762,000,000      $800,000,000

Allowance for Doubtful Accounts   $21,000,000         $22,000,000

Accounts Receivable, net             $741,000,000       $778,000,000

Which of the above numbers represents the amount of its February 2, 2020 Accounts Receivable balance that PVH expects to collect in the subsequent year(s)?

$741,000,000

Which of the above numbers represents that amount that PVH believes it will not collect from its customers as of February 2, 2020?

$21,000,000

Which of the above numbers represents the total amount PVH is owed by customers as of February 2, 2020?

$762,000,000

Provide the journal entry (both accounts and amounts) that PVH must have made to record its estimate of Bad Debt Expense in fiscal year 2019.

Dr Bad debt expense 22,000,000

    Cr Allowance for doubtful accounts 22,000,000

Provide the journal entry (both accounts and amounts) that PVH must have made to record Accounts Receivable writeoffs in fiscal year 2019.

Dr Allowance for doubtful accounts 22,000,000

    Cr Accounts receivable 22,000,000

Explanation:

Accounts receivable = $4,400,000

beginning balance Allowance for doubtful accounts = $80,000

May's net sales = $30,000,000

1% of net sales are uncollectible

aging of accounts receivable results in a $360,000 estimate for the Allowance for doubtful accounts as of May 31, 2020

answer: b 56, 250

explanation:

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'