subject
Business, 30.03.2020 21:12 andrejr0330jr

On December 31, 2017, Hawke Company reported the following results for its calendar year: Cash sales of 5,682,000 and credit sales of 0. In addition, its unadjusted trial balance includes the following items: $1,270,100 debit; 16,580 debit. Required under each of the following independent assumptions:

A) Prepare the adjusting entry for this company to recognize the bad debts:

Bad debts are estimated to be 1.5% of credit sales.
Bad debts are estimated to be 1% of total sales.
An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.
B) Show how the Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2017, balance sheet, given the facts in Part A.

C) Check the Bad Debts Expense ($85,230). Show how the Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2017, balance sheet, given the facts in Part A.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 08:00
Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.
Answers: 2
question
Business, 22.06.2019 11:10
Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.
Answers: 1
question
Business, 22.06.2019 11:30
11.     before adding cream to a simmering soup, you need to a. simmer the cream. b. chill the cream. c. strain the cream through cheesecloth. d. allow the cream reach room temperature. student d   incorrect which answer is right?
Answers: 2
question
Business, 22.06.2019 11:40
Select the correct answer brian wants to add a chart to his dtp project. what is the best way he can do this? a draw the chart using the dtp program draw option b create the chart in a spreadsheet then import it c. use the dtp chart wizard to create the chart within the dtp d. create an image of the chart in an image editor then import the image e use html code to create a chart within the dtp program
Answers: 3
You know the right answer?
On December 31, 2017, Hawke Company reported the following results for its calendar year: Cash sales...
Questions
question
Mathematics, 13.04.2021 19:30
question
Mathematics, 13.04.2021 19:30
question
Mathematics, 13.04.2021 19:30
question
Mathematics, 13.04.2021 19:30
question
Mathematics, 13.04.2021 19:30