The appropriate answers are A and D. In terms of minutes, they should include the group's name, meeting date and time, as well as the venue, alongside attendance records, and the details of previous and new matters discussed, approval of earlier minutes, and the precis wording of motions which include actions taken and voting results with the names and signatures of the involved individuals.
$114,000
To begin with,
Net credit sales amount to $2,250,000.
The starting allowance for doubtful accounts stands at $36,000.
During the year, $90,000 worth of uncollectible accounts were written off.
First, we need to ascertain the adjustment needed for the allowance for doubtful accounts:
Excess amount to adjust = Uncollectible accounts written off - Beginning allowance for doubtful accounts
= $90,000 - $36,000
= $54,000
Allowance amount calculated as follows:
10% of the accounts receivable balance:
0.1 × $600,000 = $60,000
Thus, the necessary adjustment for the Allowance for Doubtful Accounts at December 31, 2017 totals to:
Excess to adjust + Allowance amount
= $54,000 + $60,000
= $114,000.