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On January 1, 2014 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $30,000 and $500, respectively. During the year the company reported $75,000 of credit sales. There were $550 of receivables written-off as uncollectible in 2014. Cash collections of receivables amounted to $74,550. The company estimates that it will be unable to collect one percent (1%) of credit sales. The amount of uncollectible accounts expense recognized in the 2014 income statement will be? $700 $300. $750. $550.
On june 30, 2012, mackes company issued 5,000,000 face value of 13%, 20 year bonds at $5,376,150, a yield of 12%. Mackes uses the effective-interest method to amortize bond premium of discount. the bonds pay semiannual interest on june 30 and dece..
xyz produces a water filter that attaches to the faucet and cleans all water that passes through the faucet. revenue
trumpet company produced 8600 units of product that required 3.25 standard hours per unit. the standard variable
common stock financing is often considered the safest form of financing as the issuing firm is under no obligation to
joe owes willy 5000 from an old gambling debt. joe knows that there is no way he can repay the debt in the near future.
mr. gold is in the widget business. he currently sells 1.5 million widgets a year at 6 each. his variable cost to
Traditional moral philosophy has been favorable to women as evidenced by the views of Rousseau and Aristotle.
1 janie graduates from high school in 2013 and enrolls in college in the fall. her parents pay 4000 for her tuition and
Discuss Dynamics Engineering costing procedures. Why does overhead cost increase when direct labor hours increase and discuss John Smith's responsibilities in light of the IMA's statement of professional conduct.
Should Interest Rate Parity Prevent MNCs from Investing in Foreign Currencies?
mehta company traded a used welding machine cost 26082 accumulated depreciation 8694 for office equipment with an
If I invest $40,000 0n January 1, 2010 in a savings account that earns interest of 8% compounded semi-annually. What will be the amount in the fund on December 31, 2015?
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