ons were unclear C) The device or piece of devices was not totally shut off D) The device was overused



At the beginning of the existing period, Griffey Corp. Had balances in account Receivable the $200,000 and also in pin money for Doubt

centregalilee.com:

(a) Prepare the entries to document sales and collections during the period.

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Dr account Receivable $ 800,000

Cr Sales $ 800,000

Dr Cash $ 763,000

Cr accounts Receivable $ 763,000

(b) Prepare the entrance to record the write-off of uncollectible accounts during the period

Dr allowance for Uncollectible Accounts$ 7,300

Cr account Receivable $ 7,300

(c) Prepare the entries to document the recovery of the uncollectible account during the period.

Dr accounts Receivable $ 3,100

Cr allowance for Uncollectible account $ 3,100

Dr Cash$ 3,100

Cr account Receivable $ 3,100

(d) Prepare the entry come record poor debt price for the period.

Dr bad Debt Expense$ 20,200

Cr pin money for Uncollectible account $ 20,200

Explanation:

Initial Balance

Dr account Receivable $ 200.000

Cr allowance for Uncollectible account $ 9.000

During the period, it had actually net credit sales the $800,000

Dr account Receivable $ 800.000

Cr Sales $ 800.000

Collections of $763,000

Dr Cash$ 763.000

Cr accounts Receivable $ 763.000

It composed off together uncollectible account

Dr allowance for Uncollectible Accounts$ 7.300

Cr account Receivable $ 7.300

A $3,100 account previously written off together uncollectible was recovered

Dr account Receivable $ 3.100

Cr pin money for Uncollectible accounts $ 3.100

Dr Cash$ 3.100

Cr account Receivable $ 3.100

Assuming 5% of account receivable, the newspaper entry:

Dr bad Debt Expense$ 20.200

Cr pin money for Uncollectible accounts $ 20.200

FINAL Balance

Dr account Receivable $ 229.700

Cr pin money for Uncollectible accounts $ 25.000

Bad accounts space those credits granted by the agency and there is no possibility of gift charged.

When customers buy products on credits yet the company cannot collect the debt, climate it"s necessar to cancel the unpaid invoice as uncollectible.

One means is to straight cancel poor debts at the moment it was chose that the credit transaction is bad, the full amount report as negative debt expenses negatively influence the revenue statement and also the account receivable are lessened by the very same amount, less assets

The other method is to recognize a percent of the full amount of account receivable as poor debts, there are many ways to analysis accounts receivable and calculate the value of bad debts.

When the company has the percent of uncollectible accounts, the required journal entrance is poor Expenses (debit) with Reserve for negative Accounts (credit)

At the moment of cancellation, since the prices were well-known before, we only use the allowance for Uncollectible accounts (Debit) through accounts union (credit), through this we room recognizing the bad credit the the company.



centregalilee.com:

The centregalilee.com is "True".

Explanation:

In the offered question, some information is missing, the is "Fill in the blank", which have the right to be defined as follows:

The healthcare insurance premium is focused on everybody"s median health and wellness in the population, healthier people are most likely to cancel their policies, causing a Sicker patience pool and also greater insurance allowance prices. This subject is related to as an adverse selection of the wellness insurance market. Due to the fact that health insurers agency doesn"t have full medical information they fee a premium of the patient, that"s why the offered statement is true.

centregalilee.com:

The duty is, y = 2 + 3x

The price of change of the duty is 3.

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The y-intercept of the role is 2.

Explanation:

Given,

For every person,

The cost of renting shoes = $ 2,

Additional cost per video game = $ 3,

Thus, the total charges for x games, ( say y ) = rent + added cost because that x games