Business, 16.04.2020 02:54 alonzomacias1989
Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,835,000 and sales for the year total $25,690,000. a. The allowance account before adjustment has a debit balance of $12,500. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a debit balance of $12,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $162,000. c. The allowance account before adjustment has a credit balance of $26,810. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a credit balance of $26,810. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $171,200. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above.
Answers: 3
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1. what must one do to perform the essential managerial task of controlling in achieving organizational goals? a. motivate, coordinate, and energize individuals and groups to work together to achieve organizational goals b. choose appropriate organizational goals and courses of action to best achieve those goals c. establish task and authority relationships that allow people to work together to achieve organizational goals d. establish accurate measuring and monitoring systems to evaluate how well the organization has achieved its goals
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Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...
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