Business
Business, 22.06.2019 20:50, agray339

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 15:20, lamashermosa23
On january 2, 2018, bering co. disposes of a machine costing $34,100 with accumulated depreciation of $18,369. prepare the entries to record the disposal under each of the following separate assumptions. exercise 8-24a part 2 2. the machine is traded in for a newer machine having a $50,600 cash price. a $16,238 trade-in allowance is received, and the balance is paid in cash. assume the asset exchange has commercial substance.
Answers: 2
image
Business, 22.06.2019 20:20, Hi123the
Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44
Answers: 2
image
Business, 22.06.2019 22:30, ninaaforever
Ellen and george work for the same company. ellen, a gen xer, really appreciates the flextime opportunities, while george, a baby boomer, takes advantage of the free computer training offered at the company. these policies are examples of
Answers: 3
image
Business, 23.06.2019 02:00, kittybatch345
What percentage of hard rock's profit is derived from retail shop sales?
Answers: 1
Do you know the correct answer?
Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance...

Questions in other subjects:

Konu
Mathematics, 25.01.2021 05:00
Konu
Mathematics, 25.01.2021 05:00
Konu
Social Studies, 25.01.2021 05:00