Sunland Company uses the percentage-of-receivables basis to record bad debt expense. Accounts receivable (ending balance) $570,000 (debit) Allowance for doubtful accounts (unadjusted) 5,500 (debit) The company estimates that 2% of accounts receivable will become uncollectible. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b) What is the ending (adjusted) balance in Allowance for Doubtful Accounts? Ending (adjusted) balance in Allowance for Doubtful Accounts $ (c) What is the cash (net) realizable value?
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Business, 22.06.2019 16:00
In microeconomics, the point at which supply and demand meet is called the blank price
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“strategy, plans, and budgets are unrelated to one another.” do you agree? explain. explain how the manager’s choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.
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Business, 22.06.2019 19:20
Sanibel autos inc. merged with its competitor vroom autos inc. this allowed sanibel autos to use its technological competencies along with vroom autos' marketing capabilities to capture a larger market share than what the two entities individually held. what type of integration does this scenario best illustrate? a. vertical b. technological c. horizontal d. perfect
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On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
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Sunland Company uses the percentage-of-receivables basis to record bad debt expense. Accounts receiv...
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