At January 1, 2013, Simpson Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based onpast experience. 2 percent of Simpson's credit sales have been uncollectible. During 2013. Simpson wrote off 5325.000 ofaccounts receivable. Credit sales for 2013 were $9.000,000. In its December 31. 2013. balance sheet, what amount shouldSimpson report as allowance for uncollectible accounts? a. 5115.000b. 5180.000c. $245,000d. $440,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At January 1, 2013, Simpson Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based onpast experience. 2 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Blossom Company had these transactions during the current period. June 12 Issued 82,000 shares of $1 par value common stock for cash of $307,500. July 11 Issued 3,700 shares of $101 par value preferred stock for cash at $105 per share. Nov.
Answers (1)
What are the characteristics of a successful business man/woman
Answers (1)
Your firm runs a factory that currently produces only jump ropes. You forecast that you will generate $200,000 in after-tax operating cash flows from jump ropes next year. You are considering expanding to produce pogo sticks as well.
Answers (1)
Societies tend to monitor advertising to determine what is irresponsible, unethical, or illegal. Despite social shifts andtechnological advances, a culture's views on what is acceptable and unacceptable change. A. TrueB. false
Answers (1)
If matt has 50 acres of grazing land and each cow requires 2/3 of an acre, how many cattle can his land support?
Answers (1)
New Questions in Business
A door-to-door hearing aid salesman specifically targets elderly clients. When the clients ask questions about the contract, the salesman is not truthful with them entirely.
Answers (1)
Which of the examples below illustrates the economic principle of a negative externality? a. cost or benefit of a transaction that involves the buyer or seller when both parties lose money b.
Answers (1)
Steven is considering taking a job with a company that is offering gym memberships, flexible hours, repayment of education loans, merchandise discounts, and childcare. these components of the job offer are called:
Answers (1)
Each scenario below gives some information about price elasticity of demand. for each, calculate the missing data, and determine if the price change under consideration will increase, decrease, or not change the firm/'s total revenue.
Answers (1)
Alpha Colony and Beta Colony both manufacture textiles and technology. Alpha Colony always produces higher quality textiles and technology with fewer raw materials and in less time than Beta Colony.
Answers (1)