Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 29, 2024

plz help Pharoah Inc. uses the percentage of sales approach to estimate its allowance for expected credit losses. Credit sales for the year was $2016000

plz help
Pharoah Inc. uses the percentage of sales approach to estimate its allowance for expected credit losses. Credit sales for the year was $2016000 and management estimates 1.75% of credit sales to be uncollectible. What would be the balance in the allowance for expected credit losses account if the fiscal year opening balance was $44800 ? $9520$35280$80080$44800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

On average, conduct problems are appropriately 2 to 3 times more likely in boys compared to girls. The gender gap is greatest during middle childhood.

Answered: 1 week ago

Question

★★★★★

Two uniform spheres, each of mass 0.260 kg, are fixed at points A and B (Fig. 12.32). Find the magnitude and direction of the initial acceleration of a uniform sphere with mass 0.010 kg if released...

Answered: 1 week ago

Question

★★★★★

Coram Audio makes wireless headphones. Each pair of headphones comes with a travel case. Since its founding, Coram has manufactured its own travel cases. Recently, Holmur Travel Gear (HTG), a local...

Answered: 1 week ago

Question

★★★★★

The following financial information is for Cullumber Company. Cullumber Company Balance Sheets December 31 Assets 2020 2019 Cash $ 69,000 $69,000 Debt investments (short-term) 53,000 41,000 Accounts...

Answered: 1 week ago

Question

★★★★★

Soren's favorite cereal is on sale. A 20-ounce box costs $4.59. A smaller, 12-ounce box costs $2.52. Complete the statements to describe which box costs less per ounce. 0 answers

Answered: 1 week ago

Question

★★★★★

Locate an article that addresses DRM (Digital Rights Management) Identify how DRM is being used. Discuss the content holder's reasoning for implementing (or not implementing) DRM on the content....

Answered: 1 week ago

Question

★★★★★

Figure 1 shows a cabling system that will be used to support utility poles that are to be installed in your companies factory. The pole is a steal pipe and will be supported by a pair of cables at...

Answered: 1 week ago

Question

★★★★★

Kurt and Amy work in the same position. Between the hours of 8 AM and 5 PM, one of them must be working at all times. This ensures that someone is always available to handle customer requests. Kurt...

Answered: 1 week ago

Question

★★★★★

The Australian wheat market: Australia is a key producer of wheat, supplying large amounts to the international market. *Draw a simple model of the market for wheat globally, and in Australia (draw...

Answered: 1 week ago

Previous Question Next Question