Business, 31.10.2021 04:40 katwright1124
Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $384,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 8% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment? a. Bad Debt Expense 29,720 Allowance for Doubtful Accounts 29,720 b. Bad Debt Expense 28,720 Allowance for Doubtful Accounts 28,720 c. Bad Debt Expense 27,720 Allowance for Doubtful Accounts 27,720 d. Bad Debt Expense 28,220 Allowance for Doubtful Accounts 28,220
Answers: 3
Business, 22.06.2019 01:30
The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services
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Business, 22.06.2019 10:10
At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:
Answers: 1
Business, 22.06.2019 12:10
Laws corporation is considering the purchase of a machine costing $16,000. estimated cash savings from using the new machine are $4,120 per year. the machine will have no salvage value at the end of its useful life of six years and the required rate of return for laws corporation is 12%. the machine's internal rate of return is closest to (ignore income taxes) (a) 12% (b) 14% (c) 16% (d) 18%
Answers: 1
Business, 22.06.2019 14:00
Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate
Answers: 1
Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balan...
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