Business, 27.07.2020 01:01 myalee1419

Percent of sales method; write-off At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare the journal entries of Chan to record these transactions and events of December 31, February 1, and June 5.

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Answer from: mithydizon1553

Entries are given below

Explanation:

On 31 Dec Chan company estimates its bad debts as 0.5% of all credit sales

DEBIT CREDIT

Bad Debt(975,000x0.5%) $4875

Allowance for bad debt $4875

On February 1, Chan decides that the $580 account of P. Park is uncollectible

DEBIT CREDIT

Allowance for bad debt $580

Receivables $580

On June 5, Park unexpectedly pays the amount previously written off.

DEBIT CREDIT

Receivables (reinstated) $580

Allowance for bad debt (reinstated) $580

Cash (amount received) $580

Receivables $580

Answer from: Quest

bd = 9 cm

step-by-step explanation:

in a 30°-60°-90° triangle, the ratio of side lengths is 1 : √3 : 2. that is, the longest side (hypotenuse) is twice the length of the shortest side.

all of the triangles in your geometry are 30°-60°-90° triangles. ac is the hypotenuse of δacd, and the short side of δabc.

the short side ad of δacd will be half the length of ac, so 3 cm. the hypotenuse ab of δabc will be twice the length of ac, so 12 cm. segment bd is the difference of the lengths ab and ad, so is

bd = ab -ad

bd = 12 cm - 3 cm = 9 cm

comment on side length ratios

you can figure the ratios of side lengths in a 30°-60°-90° triangle by considering the trig ratios of the angles. or you can figure the length of the altitude of an equilateral triangle of side length 2 using the pythagorean theorem.

Answer from: Quest

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to

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Percent of sales method; write-off At year-end (December 31), Chan Company estimates its bad debts...