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Salsk061 [2.6K]
1 year ago
8

At the beginning of the current period, Kingbird Corp. had balances in Accounts Receivable of $192,800 and in Allowance for Doub

tful Accounts of $8,520 (credit). During the period, it had net credit sales of $722,500 and collections of $708,940. It wrote off as uncollectible accounts receivable of $7,972. However, a $3,275 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $22,740 at the end of the period. (Omit cost of goods sold entries.) Collapse question part (a - d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period.
Business
1 answer:
Delicious77 [7]1 year ago
3 0

Kingbird Corp

A.

Dr Account Receiveable $722,500

Cr Sales Revenue $722,500

B.

Dr cash $708,940

Cr Account receivable $708,940

C.

Dr Bad debt expense $14,220

($22,740-$8,520)

Cr Allowance for Doubtful Account $14,220

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Answer:

  • <u>Members of teams with high cohesiveness feel higher loyalty to the team and have better job satisfaction.</u>
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Explanation:

Remember, cohesiveness looks at the degree to which team members <em>stick</em> together in times of difficulties.

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To find the PV using a financial calculator:

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The Press has total assets of $848,000 and total debt of $402,000 on a market value basis. There are 25,000 shares of stock outs
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Answer: $17.84

Explanation:

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Outstanding Shares = 25,000

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