Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $109,500, and it estimates that 5% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has:(a) a $1,862 credit balance before the adjustment.(b) a $548 debit balance before the adjustment.
Answers: 1
Business, 21.06.2019 19:30
The framers of the us constitution created a system of government that established branches of government set forth the powers of such a branches and placed limits on those powers what are the benefits of such a system? are there any problems associated with such a system?
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Business, 22.06.2019 11:40
In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?
Answers: 2
Business, 22.06.2019 12:10
Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)
Answers: 1
Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding...
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