Use the following information to answer the next two questions: Q14 and Q15. The Cavallas Co. had the following balances in selected accounts on 12/31/10. Balances in Selected Accounts: Account Debit Credit Accounts receivable 100,000 Allowance for doubtful accounts 1,000 Bad Debt Expense 0 Sales 500,000 Sales returns 50,000 14. The company estimates that 4% of Accounts Receivable will never be collected. The adjusting journal entry to record the estimate of bad debt expense is:
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Ответ:
Debit bad debt with $4,000, and credit Accounts receivable also with $4,000.
Explanation:
New bad written off = Accounts receivable × 4% = $100,000 × 4% = $4,000
The journal entries will be as follows:
Details Dr ($) Cr ($)
Bad debt 4,000
Accounts receivable 4,000
Being a bad written off the accounts receivable
Ответ:
60 + 12 * g, with g representing the number of extra gigabytes
Step-by-step explanation:
First, we know that Maritza has to pay $60 for 10GB of data, no matter what. Therefore, the base cost of the cell phone plan is 60 dollars, and all extra costs must be added to that. Currently, our expression is therefore 60 + something = cost of cell phone plan.
After that, the plan costs $12 for each gigabyte of data past 10 GB. This means that, for example, if Maritza uses 11 gigabytes, the plan will cost 60 (the base amount) + 12 for each gigabyte past 10 GB. There are 11-10=1 extra gigabytes, so the cost is 60 + 12 * 1 = 72 dollars. For each extra gigabyte, 12 dollars are added, so we can represent this as
60 + 12 * g, with g representing the number of extra gigabytes