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Calistoga Produce estimates bad debt expense at 0.30% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $472,000 and $1,530
Calistoga Produce estimates bad debt expense at 0.30% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $472,000 and $1,530 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $325,000 and $301,000, respectively, and $1,810 in accounts receivable were written off Calistoga's 2024 bad debt expense is: Multiple Choice $905. $1,120 O $975 $905. O $1,120. $975. O $1,050. On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan, Bob is guaranteed to receive a base fee of $4,900 for his services in addition to a bonus depending on when the project is completed. Nolan created incentives for Bob to finish the barn as soon as he can without jeopardizing the structural integrity of the bar. Nolan offered to pay an additional 25% of the base fee if the project finished 2 weeks early and 15% if the project finished a week early. The probability of finishing 2 weeks early is 20% and the probability of finishing a week early is 60%. What is the expected transaction price with variable consideration estimated as the expected value? Multiple Choice $6,500 $5,586 4 Multiple Choice $6,500 $5,586 O $4,900 O $4,655
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