If the estimated amount of uncollectible accounts at the end of the year (based on the aging method) was $3,675.32 and Allowance for Bad Debts had a credit balance of $860, the necessary adjustment would include
a. debiting Allowance for Bad Debts, $3,675.32.
b. crediting Allowance for Bad Debts, $3,675.32.
c. debiting Bad Debt Expense, $2,815.32.
d. crediting Bad Debt Expense, $2,815.32.
c
You might also like to view...
What is the problem with a goal that lacks the quality of being “aligned”?
a. It will not match the organization’s overall strategies. b. It will not be realistic based on what the manager has assigned. c. It will not be aligned with ethical behavior. d. It will be reachable with incremental gain.
_______ aim at inventing new science or capturing new know-how so that required knowledge will be available for application in specific development projects
a. Alliances and partnership projects b. Research and advanced development projects c. Breakthrough projects d. Platform projects
Which of the following is an advantage of written communication?
A) Creates a permanent record B) Provides immediate feedback C) Is more personal than oral communication D) Is effective for delivering nonverbal cues
Rocca Hats, Inc has two product lines—batting helmets and football helmets
The income statement data for the most recent year is as follows: Total Batting Helmets Football Helmets Sales revenue $940,000 $600,000 $340,000 Variable costs (430,000 ) (150,000 ) (280,000 ) Contribution margin $510,000 $450,000 $60,000 Fixed costs (180,000 ) (90,000 ) (90,000 ) Operating income (loss) $330,000 $360,000 $(30,000 ) Assuming the football helmet line is dropped, total fixed costs remain unchanged, and the space formerly used to produce the football helmet line is used to double the production of batting helmets, operating income will be ________. A) $450,000 B) $180,000 C) $720,000 D) $360,000