Pronghorn, Inc. had net sales in 2017 of $1,476,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $257,500 debit, and Allowance for Doubtful Accounts $1,877 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Pronghorn, Inc. had net sales in 2017 of $1,476,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Farmer and Taylor formed a partnership with capital contributions of $200,000 and $250,000, respectively. Their partnership agreement calls for Farmer to receive a $70,000 per year salary. The remaining income or loss is to be divided equally.
Answers (1)
Consider the following list of four economies. Which economy began with a level of real income per person in 1960 that was below that of Finland and grew fast enough to catch up with and surpass Finland's real income per person by 2010?
Answers (1)
Skilled professionals who are responsible for the development of strategies to minimize taxes are called: a. tax accountants. b. certified public accountants. c. certified management accountants. d. certified internal auditors.
Answers (1)
What is the best indicator that a training and development program was worth the investment? a. long-term behavioral change b. effective recruiting and onboarding c. attentive participants d. perfect test scores e.
Answers (1)
If a country increases the amount of goods it imports but its exports remain unchanged: a) AD shifts left. b) AD would not shift. c) AD would shift but in a random direction. d) AD shifts right.
Answers (1)
New Questions in Business
The chapter says that for consumers as a group, Quiznos sandwiches are normal goods and Subway sandwiches are inferior goods.
Answers (1)
Suppose that a firm produces 200,000 units a year and sells them all for $10 each. The explicit costs of production are $1,500,000 and the implicit costs of production are $300,000. The firm has an accounting profit of: a.
Answers (1)
John has applied overhead of $80,000 and actual overhead of $70,600 for the month of November. He applies overhead based on direct labor hours, and that amounts to 10,000 hours for the month of November.
Answers (1)
Under market organization, individuals can communicate their preferences to other decision makers directly, through communication, but not indirectly, through their choice of whom to transact with. A) True B) False
Answers (1)
If you die without a valid will: the federal court decides how the property should be distributed. the IRS confiscates your property. your relatives or friends will get the property. the state's law of descent and distribution becomes your will.
Answers (1)