Ben Chang noticed that his store was lagging in sales. He realized that his staff was not experienced enough. As the store manag

er, what should Ben do to address this issue?
a.)train staff in the latest sales trends
b.)reprimand the staff for their lack of knowledge
c.)hire staff from competitor stores
d.)fire some of the staff to cover sales losses

Business

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Nemo Haulers is considering whether to purchase a new mini tractor for moving furniture within its warehouse. Nemo calculates th

Mariulka [3825]

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During Burns Company's first year of operations, credit sales totaled $166,000 and collections on credit sales totaled $118,000.

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Response:

1. Create all necessary journal entries concerning uncollectible accounts and bad debt expense.

Dr Bad debt expense_______ 3320

Cr Allowance for bad debt_________________ 3320

Dr Allowance for bad debt__ 430

Cr Account Receivable_____________________ 430

2. Provide the year-end balance sheet display for accounts receivable.

Accounts receivable__________47570

Net accounts receivable_______44250

Clarification:

Credit transactions 166000

Credit transactions 118000

Bad debt losses are 2%

Written off 430

Allowance 3320