Business, 14.04.2021 18:10 cooljazzy1234
Sales in 2015 1400000 at December 31,2015, before adjusting entire account receivable 250000debit allowance for doubt full account 2400 credit 2% net sales will prove uncollectible, prepare the December 31,2015, journal entry to record bad debt expense.
Answers: 3
Business, 22.06.2019 19:40, raewalker23p4ibhy
Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.
Answers: 3
Business, 22.06.2019 22:40, tonypewitt
Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?
Answers: 1
Business, 23.06.2019 03:50, brooke2828
What is inventory turnover? explain the effect of a high inventory turnover during the christmas shopping season.
Answers: 1
Sales in 2015 1400000 at December 31,2015, before adjusting entire account receivable 250000debit al...
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