The data presented below is for Craft, Inc for 2015. Credit sales during the year $2,100,000 Accounts receivable—December 31, 2015 295,000 Allowance for doubtful accounts—December 31, 2015 28,000 Bad debt expense for the year 17,000 What is the effect on liquidity when Craft records its estimate for bad debt expense using the allowance method?
a. Liquidity decreases
b. Liquidity increases
c. Liquidity stays the same
d. Liquidity both increases and decreases
a
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Which statement is not true? A batch control record
a. contains a transaction code b. records the record count c. contains a hash total d. control figures in the record may be adjusted during processing e. All the above are true
A(n) ________ occurs when a respondent reaches a certain point, and then decides not to answer any more questions for the survey
A) refusal B) break-off C) item omission D) perplexing situation E) desertion
All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October.
Galina, Inc. has prepared the following direct materials purchases budget:
A) $46,920
B) $54,520
C) $7600
D) $15,420
When using a visual from another source, where should the citation be placed?
A) In the text that describes the visual B) In the caption C) In the Work Cited page D) At the bottom of the page where the visual is placed E) In your List of Illustrations