answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Reil
14 days ago
14

Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31, and a hist

orical analysis of the percentage of uncollectible accounts in each age category are as follows:
Age Class Balance Percent Uncollectible
Not past due $892,000 3/4 %
1–30 days past due 285,000 1
31-60 days past due 101,000 8
61–90 days past due 63,000 16
91–180 days past due 43,100 50
Over 180 days past due 17,700 80
Total $1,401,800
Required:
1. Assume that the allowance for doubtful accounts for Outiaw Bike Co. had a debit balance of $5,140 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31 Dec. 31
Business
You might be interested in
Why do you think that auto loans have the lowest rejection rates among these credit types?
harina [3808]

Answer:

An auto loan is financial assistance taken to acquire an automobile. These loans generally function as installment loans and are secured by the worth of the car being financed. In essence, a car loan serves as a personal loan utilized specifically for purchasing a vehicle. In return, the borrower must repay the lender the amount borrowed plus interest, typically in monthly installments, until the debt is fully settled.

Obtaining a car may positively impact your credit history if the payments are made punctually and as agreed. On the other hand, failing to make timely payments can harm your credit score. When applying for a car loan, your application is often evaluated by multiple lenders, and each lender's review adds a new inquiry to your credit report.

Explanation:

6 0
1 month ago
All else equal, a firm would prefer to have a higher gross margin. <br> a. True <br> b. False
Scilla [3833]
I believe the correct answer is true.
8 0
1 month ago
A bakery famous for its cupcakes opens its doors at 9 a.m. and allows each customer to purchase up to 2 cupcakes until the day's
Nady [3600]

Answer:

The true statements regarding the market are:

1) The cupcakes are priced below their equilibrium level. This is evident as excess demand exists, which wouldn't be the case at the equilibrium price.

3) Customers getting cupcakes are those who value them the most, seen through their willingness to queue before the bakery opens.

4) The bakery does not rely solely on price for distributing cupcakes. Timing plays a role; only those who arrive early get them.

Statements (2) and (4) are incorrect because those conditions only hold true at the equilibrium point.

6 0
2 months ago
As a new manager, Candace has had to learn a lot, and sometimes her job is more stressful than she expected. As a manager, she n
Nady [3600]

Answer: disturbance handler; decisional; more through others.

Explanation:

As a newly appointed manager, Candace has faced a steep learning curve, and at times, her role is more demanding than anticipated. As a manager, she must take on multiple responsibilities. Candace organizes employee schedules for front desk shifts, dog play areas, and grooming rooms.

This falls under the disturbance handler function in management, categorized as a decisional aspect. To adjust to her managerial role, Candace has learned to facilitate tasks by coordinating with others.

4 0
2 months ago
Other questions:
  • Suppose the following data were taken from the 2022 and 2021 financial statements of American Eagle Outfitters. (All numbers, in
    13·1 answer
  • Sherburne Snow Removal's cost formula for its vehicle operating cost is $2,510 per month plus $371 per snow-day. For the month o
    15·1 answer
  • What should a manager do if a guest displaying visible signs of intoxication refuses assistance, and attempts to leave the premi
    7·1 answer
  • Carlos wants Juan and Rita to handle the personality issues themselves. As the company did not make any thought-out change in an
    6·1 answer
  • The table below describes the total and marginal benefit elvis gets from fried peanut butter and banana sandwiches. elvis' fried
    7·1 answer
  • If a company separates customers into categories and treats each group differently, what strategy is it using?
    9·2 answers
  • Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To inves
    10·2 answers
  • Two consumers, A and B, consume books and wine. Consumer A's initial endowment is (60, is, has has 60 books and 10 bottles of wi
    6·1 answer
  • Edge inc. manufactures new, advanced camera cars and tracking vehicles used in filmmaking. the demand for these products has bee
    6·2 answers
  • Sidewinder, Inc., has sales of $658,000, costs of $334,000, depreciation expense of $79,000, interest expense of $44,000, and a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!