What journal entry required to record uncollectible account

Assignment Help Accounting Basics
Reference no: EM132034149

Question - Charmed, Inc. had credit sales for the period of $142,000. The balance in Allowance for Doubtful Accounts is a debit of $643. If Charmed ages Accounts Receivable and determines estimated uncollectible accounts to be $2,850, what is the required journal entry to record estimated uncollectible accounts?

Reference no: EM132034149

Questions Cloud

What is the most likely wind direction at point d : What is the most likely wind direction (North, South, East, West) at Point D? At Point D, is the pressure rising or falling?
Discuss the effect on company financial statements : Two more payments of $100,000 each are also required on December 29, 2017 and 2018. Discuss effect that this event will have on company's financial statements
Evaluate the purchase of proposed spectrometer : You must evaluate the purchase of a proposed spectrometer for the R&D department. You must evaluate the purchase of a proposed spectrometer for the R&D departme
What other factors might influence steven decision : Potency and efficacy are two of the most misunderstood concepts in the area of drug use. Many overdoses occur because the potency of the newly purchased drug.
What journal entry required to record uncollectible account : If Charmed ages Accounts Receivable & determines estimated uncollectible accounts to be $2,850, what journal entry required to record uncollectible accounts
What steps could you take to reduce your carbon footprint : A person's carbon footprint refers to the amount of carbon dioxide produced by an individual over a given period of time.
What market segmentation approaches does the company use : FIN09903 - Marketing Financial Services - Identify and review some of the strategies which the company uses to deal with the difficulties presented
Explain the effect that the drugs have in the brain : Attention deficit hyperactivity disorder (ADHD) has received a lot of media coverage in the past ten years. One of the things most misunderstood.
What steps should take to address kayin challenges : What steps should Mr. Bledsoe take to address Kayin's challenges? How should Mr. Bledsoe approach the issue of cultural differences with Kayin's parents?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd