subject
Business, 07.06.2020 02:01 ballin4534

Use the following information about Ringo Corporation to answer the next four questions The Accounts Receivable balance for Ringo Corporation is $200,000 at May 31, 2020. Before calculating and recording May 2020 bad debt expense, the Allowance for Doubtful Accounts has a debit balance of $9,800. Net sales for the month are $1,160,000. An aging of accounts receivable results in a $14,000 estimate for the Allowance for Doubtful Accounts as of May 31, 2020. In the past several years, 2% of net sales have proven uncollectible. 1. If Ringo uses the analysis of receivables method, Bad Debt Expense on the May 2020 Income Statement will be:. a $23.800 b. $23,200. c. $14,000 d. $13,400.

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 01:30
Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation
Answers: 1
question
Business, 22.06.2019 05:30
Laurelton heating & cooling installs and services commercial heating and cooling systems. laurelton uses job costing to calculate the cost of its jobs. overhead is allocated to each job based on the number of direct labor hours spent on that job. at the beginning of the current year, laurelton estimated that its overhead for the coming year would be $ 61 comma 500. it also anticipated using 4 comma 100 direct labor hours for the year. in april comma laurelton started and completed the following two jobs: (click the icon to view the jobs.) laurelton paid a $ 20-per-hour wage rate to the employees who worked on these two jobs. read the requirements requirement 1. what is laurelton's predetermined overhead rate based on direct labor hours? determine the formula to calculate laurelton's predetermined overhead rate based on direct labor hours, then calculate the rate. / = predetermined overhead rate
Answers: 2
question
Business, 22.06.2019 20:20
Which statement is not true about a peptide bond? which statement is not true about a peptide bond? the peptide bond has partial double-bond character. the carbonyl oxygen and the amide hydrogen are most often in a trans configuration with respect to one another. rotation is restricted about the peptide bond. the peptide bond is longer than the typical carbon-nitrogen bond.
Answers: 2
question
Business, 22.06.2019 22:40
Suppose your firm is considering investing in a project with the cash flows shown as follows, that the required rate of return on projects of this risk class is 10 percent, and that the maximum allowable payback and discounted payback statistics for the project are three and a half and four and a half years, respectively. use the irr decision to evaluate this project; should it be accepted or rejected
Answers: 3
You know the right answer?
Use the following information about Ringo Corporation to answer the next four questions The Accounts...
Questions