FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Market Efficiency
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Question 8
9 units @10 BU each. The weighted average cost per unit for the above inventory is: O 9.5 BD O 9.67 BD 10 BD 9 BD QUESTION 8 ESG company sold merchandise with a cost of $1,500 for $4,500 cash. The journal entry to record this transaction includes: O Dr. to accounts receivable and Cr. to sales; $4,500 O Dr. to accounts receivable and Cr. to sales; $1,500 O Dr. to cash and Cr. to sales; $1,500 Dr. to cash and Cr. to sales; $4,500 QUESTION 9 $100,000. 1% of net credit sales 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $1,800 before the estimate was made $40,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sale For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
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Transcribed Image Text:9 units @10 BU each. The weighted average cost per unit for the above inventory is: O 9.5 BD O 9.67 BD 10 BD 9 BD QUESTION 8 ESG company sold merchandise with a cost of $1,500 for $4,500 cash. The journal entry to record this transaction includes: O Dr. to accounts receivable and Cr. to sales; $4,500 O Dr. to accounts receivable and Cr. to sales; $1,500 O Dr. to cash and Cr. to sales; $1,500 Dr. to cash and Cr. to sales; $4,500 QUESTION 9 $100,000. 1% of net credit sales 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $1,800 before the estimate was made $40,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sale For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
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