Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. pair each item from list a with the item from list b that is most appropriately associated with it.

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should

One pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be: