The following information is available for Marigold Corp.: Allowance for doubtful accounts at December 31, 2019 $23000 Credit sales during 2020 1250000 Accounts receivable deemed worthless and written off during 2020 26800 As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16700 is needed at December 31, 2020. What amount should Marigold record as "bad debt expense" for the year ended December 31, 2020?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following information is available for Marigold Corp.: Allowance for doubtful accounts at December 31, 2019 $23000 Credit sales during ...” 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
Kenneth finds a home in town that has been abandoned and moves into it. he fixes broken windows, paints the house, tends the yard and garden, and puts his name on the mailbox by the street.
Answers (1)
Joe takes his car into the repair shop to have his tires realigned. while he is waiting for his car, he sees the repairmen take his car to the area where they change the car's oil. the car is then taken to the area where the tires are realigned.
Answers (1)
A method by which one can compare cash flows across time, either as what a future cash flow is worth today (present value) or what an investment made today will be worth in the future (future value) is called Group of answer choices
Answers (1)
Describe the meaning of venture opportunity screening.
Answers (1)
Art directors need an graduate degree? True or False
Answers (2)
New Questions in Business
Fuqua Company's sales budget projects unit sales of part 198Z of 10,100 units in January, 12,600 units in February, and 13,700 units in March. Each unit of part 198Z requires 3 pounds of materials, which cost $4 per pound.
Answers (1)
Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,300. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life, and an $7,000 residual value. Required: 1.
Answers (2)
2. Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye's asset is $1200. In one year they will be worth either $800 or $1400. The going rate on T-bill is 4 percent.
Answers (1)
What are we willing and able to buy
Answers (1)
The account cash overage is which type of account? an asset account a liability account a miscellaneous revenue account a miscellaneous expense account
Answers (1)