At january 1, 20x7, gear co. had a credit balance of $180,000 in its allowance for uncollectible accounts. based on past experience, 3% of gear’s credit sales have been uncollectible. during 20x7, gear wrote off $210,000 of uncollectible accounts. credit sales for 20x7 were $4,500,000. in its december 31, 20x7 balance sheet, what amount should gear report as allowance for uncollectible accounts? a. $135,000
b. $105,000
c. $320,000
d. $210,000

Monica needs to assess the slide sequence and make quick changes to it. which view should she use in her presentation program? a. outline b. slide show c. slide sorter d. notes page e. handout

The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.