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Molodets [167]
2 years ago
13

Juan, Inc. had the following balances in accounts for the year ending December 31st: Accounts receivable: $3,480,000 (Dr.) Allow

ance for Doubtful Accounts: $22,000 (Cr.) Net credit sales: $5,500,000 (Cr.) Juan, Inc. estimates bad debt expense as 2% of Accounts Receivable for the year. After recording adjusting journal entries, what is the December 31st balance in Allowance for Doubtful Accounts, after the AJE?
Business
1 answer:
vampirchik [111]2 years ago
8 0

Answer:

The December 31st balance in Allowance for Doubtful Accounts, after the AJE is $69,600

Explanation:

Allowance for doubtful debts is a provision created by the entity for those Accounts Receivables for which settlement may never be received.

Juan, Inc. estimates bad debt expense as 2% of Accounts Receivable for the year

Therefore Provision for allowance for doubtful debts is $3,480,000 × 2% = $69600

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ivolga24 [154]

Answer:We use the Large Function. the general formula is  =LARGE(first cell:last cell,3) .Please refer to the explanation section for details

Explanation:

Let us assume

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Using the Large function on excel to return the third largest value, on the formula bar we have the following formula;

=LARGE(A1:A2,3)

7 0
2 years ago
The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the followi
Mrac [35]

Answer:

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$2          1                              1

$4          2                             1

$8          3                             1

$12         4                            2

$20        4                            2

$32        5                            4

$44       5                            5

In this market, the equilibrium price will beper widget, and the equilibrium quantity will be:

In this market, the equilibrium price will be $44, because is the price where the quantity supplied and the quantity demanded is the same: 5 widgets supplied, and 5 widgets demanded.

4 0
3 years ago
Which of the following is correct concerning reactions to INCREASES in activity? Total Variable Cost Variable Cost Per Unit A) I
TiliK225 [7]

Answer: D) Increases Constant

4 0
2 years ago
Which idea best explains the Datasheet view?
nydimaria [60]

Answer:

a default setting for displaying all the data in a table

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Datasheet View is default settings in Database Management System, which allows access to view the displayed data organized in columns and rows similar to an excel worksheet.

It also allow options for enter, delete or modify the data in a table.

Hence, in this case, the best idea that explains the Datasheet view is a default setting for displaying all the data in a table

3 0
2 years ago
Dorrance, the coach of the UNC women’s soccer team, has an eye for recruiting outstanding talent. In business language, this is
My name is Ann [436]

Answer: Selective hiring

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