FREE Trial S
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company, extends credit to its customers. Total Sales is 2 Million, credit Sales is 850,000, Sales Return is 305,000, with percent of uncollectibility set

A company, extends credit to its customers. Total Sales is 2 Million, credit Sales is 850,000, Sales Return is 305,000, with percent of uncollectibility set at 4%. Beginning Accounts Receivable is 400,000, ending balance is at 735,750. What is the journal entry using Percentage of Accounts Receivable?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Food Beverage And Labor Cost Controls

Principles Of Food Beverage And Labor Cost Controls

Authors: Paul R. Dittmer, Gerald G. Griffin

6th Edition

ISBN: 0471293253, 978-0471293255

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider again Example 4.3. How does the answer change if the main memory uses a block transfer capability that has a first-word access time of 30 ns and an access time of 5 ns for each word...

Answered: 1 week ago

Question

★★★★★
Consider the transportation problem having the following parameter table: (a) Use Vogels approximation method manually (dont use the interactive routine in your OR Courseware) to select the first...

Answered: 1 week ago

Question

★★★★★
6.63 a. Find the probability that z is greater than -0.75. b. Find the probability that z is less than 1.35.

Answered: 1 week ago

Question

★★★★★
In an underwriting, what role does each of the following play? (a) The investment banker (b) The syndicate (c) The red herring (d) The SEC (e) The saver (investor).

Answered: 1 week ago

Question

★★★★★
* CONSIDER A NUCLEAR REACTOR Assume that a reactor has been operating at steady state for a long period of time and the reactor "scrams." Derive a relationship that will yield the time at which the...

Answered: 1 week ago

Question

★★★★★
Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2021....

Answered: 1 week ago

Question

★★★★★
EEyes.com just issued some new preferred stock. The issue will pay an annual dividend of $12 in perpetulty, beginning 12 years from now. If the market requires a 10 percent return on this investment,...

Answered: 1 week ago

Question

★★★★★
1. What does the paid for version of Vivado do that the WebPack can t do? ' 2. What is the tool that Altera (Intel) FPGAs use? How does it compare to Vivado? 3. What are the key differences between...

Answered: 1 week ago

Question

★★★★★
2. (Taylor series/polynomials) Find the Taylor series or polynomials generated by the following functions: i. f(x)=, centred at x = 4, of order 3 ii. f(x)cosh x = e+e 2 centred at x = 0 " = /4 iii....

Answered: 1 week ago

Question

★★★★★
Which health information exchange is occurring within the community, region, or New Jersey? Who are the key players? To what extent information is being exchanged for patient care purposes? What...

Answered: 1 week ago

Question

★★★★★
4.1. The following table represents data of a project you are working on: Activity Predecessor Most optimistic Most likely Most pessimistic Time in days A _ 4 8 24 B _ 3 10 11 C _ 6 12 24 D A;B 9 14...

Answered: 1 week ago

Question

★★★★★
A capacitor of capacitance C with an initial voltage Vo is discharged through a resistor of resistance R by closing a switch at time t = 0. It can be shown that the voltage across the discharging...

Answered: 1 week ago

Question

★★★★★
Discuss how technology impacts HRD evaluation

Answered: 1 week ago

Question

★★★★★
Discuss how various individual differences affect the learning process

Answered: 1 week ago

Question

★★★★★
Explain the importance of identifying individual performance deficiencies and developmental needs in planning and developing training and HRD programs

Answered: 1 week ago

Previous QuestionNext Question