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Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2013, net credit sales totaled $6,200,000, and the estimated bad debt percentage is 1.20%. The allowance for uncollectible accounts had a credit balance of $59,000 at the beginning of 2013 and $48,500, after adjusting entries, at the end of 2013.
1) what is the bad debt expense for 2013?
2) Determine the amount of accounts receivable written off during 2013.
3) If the company uses the direct write-off method, what would bad debt expense be for 2013?
Broussard Skateboard's sales are expected to increase by 25% from $7.4 million in 2013 to $9.25 million in 2014. Its assets totaled $2 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as proj..
accounting for receivablesacme company had a january 1 balance in its allowance for doubtful accounts of 7000 for the
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over 1990s the loewen group expanded from funeral homes to cemeteries partly financed by 2 billion of bonds and 300
Calculate the total revenues per distributor category, and assign the customer costs to each distributor type by using revenues as the allocation base. Selling price for one unit is $125.
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With regard to GASB rules for the financial reporting entity, answer the following:Define financial reporting entity.
Canler Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Using the weighted-average method, determine the equivalent units o..
Beyer Corporation is considering buying a machine for $39,500. Its estimated useful life is five years, with no salvage value. Beyer anticipates annual net income after taxes of $3,400 from the new machine. What is the accounting rate of return assum..
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