A change in accounting estimate does not result in a retrospective adjustment to previously issued financial statements
Indicate whether the statement is true or false
True
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After aging the accounts receivable, it is estimated that $420 will not be collected and the allowance account has an existing debit balance of $100 . If accounts receivable is $145,000, the net receivables would be
a. $145,000. b. $144,580. c. $144,900. d. $144,480.
Federal Bank of America has loaned $9,000 to Southgate Animal Hospital, using a 90-day non-interest-bearing note. The bank discounted the note at 8%. The debit to Discount on Notes Payable in the general journal will be in the amount of
a. $9,000.00. b. $8,820.00. c. $180.00 d. $9,180.00.
The drawing account is used to record assets distributed by the business to the owner
Indicate whether the statement is true or false
A marketing dashboard should display ________
A) implementation controls B) plans for each marketing audit C) the company's marketing-mix models D) the instrument panel of all vehicles sold by a dealership E) a customer-performance scorecard and a stakeholder-performance scorecard