![toolazytobehuman](/avatars/45229.jpg)
toolazytobehuman
17.03.2020 •
Business
As of January 1, 2021, Chelsea Co. had a balance of $520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Chelsea's credit sales have been uncollectible. During 2021, Chelsea wrote off $650,000 of accounts receivable. Credit sales for 2021 were $18,000,000. In its December 31, 2021 balance sheet, what amount should Chelsea report as allowance for uncollectible accounts?
Solved
Show answers
More tips
- C Computers and Internet The Best Antivirus Programs for your PC...
- H Health and Medicine Angina: Causes, Symptoms, and Treatment...
- C Computers and Internet How to Learn to Type Fast?...
- F Food and Cooking Delight for Gourmets: How to Prepare Liver Pate...
- S Style and Beauty How to braid friendship bracelets?...
- H Health and Medicine Mercury Thermometer Danger: What to do when a thermometer breaks?...
- F Food and Cooking Which Calamari Salad is the Most Delicious?...
- S Society and Politics 10 Tips for Boosting Your Self-Esteem...
- F Food and Cooking The Most Delicious and Simple Fish in Batter Recipe...
- H Health and Medicine What is Autism? Understanding the Basics of This Neurodevelopmental Disorder...
Answers on questions: Business
- F French Which adjective form best completes the second sentence? jean joue au foot tous les jours. il est très...
- H History Prehistory is considered what time period? before world war i before the ancient greeks before writing before humans...
- M Mathematics Find the x and y intercepts of 7x - 3y = 42...
- E English Can i get informative sentences on how social media is harmful for teens.(35points)...
- E English Which tone is most appropriate for a topic...
- B Biology If two traits cross and the outcome is the presence of both traits together , it is a) polygenic inheritance b) codominance c) incomplete dominance d) epistasis...
- M Mathematics 4%4, percent of a number is what fraction of that number?...
- H History What was different about the french and indian war with respect to the other european wars between 1688 and 1748? a. it was the only war that was not fought over succession to...
- E English What is the overall argument the author presents? city upon a hill...
- F French Le professeur robert sait beaucoup de choses sur l’histoire de l’europe. il est a. intelligente b. cultivée c. cultivé d. timide...
Ответ:
Chelsea should report $230,000 as allowance for noncollectable accounts
Explanation:
Allowance in beginning = $520,000
Allowance needed for 2021 sales = $18,000,000 x 2% = $360,000
Total allowance balance before write off = $880,000
Less: write off = $ 650,000
Allowance balance at year end = $520,000 + $360,000 - $650,000
= $230,000
Ответ:
The answer is D) a concluding statement
Explanation:
i just did the test