# Assume that Simple Co had credit sales of $282,000 and cost of goods sold of$166,000...

###### Question:

Assume that Simple Co had credit sales of $282,000 and cost of goods sold of$166,000 for the period. It estimates that percent of credit sales in uncollectible accounts when it uses the percentage of credit sales method and it estimates that the appropriate ending balance in the Allowance for Doubtful Accounts is $3,900 when it uses the aging method. Before the end of period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of$410. 1. Prepare the journal entry to record the end-of-period adjustment for bad debts under the (a) percentage of credit sales method and (b) aging of accounts receivable method. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the end-of-period adjustment for bad debts under the percentage of credit sales method Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear ents View general journal

#### Similar Solved Questions

##### 82. Name of Drug (Trade and Generic): Seroquel (quetiapine fumarate) Classification and Indication for Use: Normal...
82. Name of Drug (Trade and Generic): Seroquel (quetiapine fumarate) Classification and Indication for Use: Normal Dosage: Route of Administration: ation: Side effects: R2 Name of Trade and Ganariel: Siriva dintrnnium bromide) 74. Name of Drug (Trade and Generic): Novolog (insulin aspart) Classifica...
##### Compute the value of the test statistic The null and alternate hypotheses are: Ho Maso HP>0...
Compute the value of the test statistic The null and alternate hypotheses are: Ho Maso HP>0 The following sample information shows the number of defective units produced on the day shift and the afternoon shift for a sample of four days last month. Day 2 12 10 1 10 9 Day shift Afternoon shift 13 ...
##### The below transf ormatio n involves a substitution of the OH with a concurrent Draw both...
The below transf ormatio n involves a substitution of the OH with a concurrent Draw both a i) mechanism for the reaction and i) a partial at are invo omplete diagram only the energy level that decides the ring-lar Orbital closing reaction. Draw both a diagram of the T orbi tals th at are involved in...
##### We have a simple audio system, consisting of a microphone (which samples an audio signal, resulting...
We have a simple audio system, consisting of a microphone (which samples an audio signal, resulting in a discrete-time signal), an amplifier which multiples the input signal by A, a constant greater than 1), and a speaker. The sound emitted by the speaker is picked up by the microphone, resulting in...
##### Once again, consider the use of DNN for classification task with the specific architecture below that we have encounter...
Once again, consider the use of DNN for classification task with the specific architecture below that we have encountered in the class as well as in assignment 1. This question will investigate deeper into this network to provide it with further flexiblity. sottmax Output layer h(x) Hidden layer hx)...
##### When an annual budget is created, should it ever be changed? Why or why not? If...
When an annual budget is created, should it ever be changed? Why or why not? If you answered yes, provide an example of when you might change the annual budget....
##### The figure below shows a plot of an electric potential as a function of distance along...
The figure below shows a plot of an electric potential as a function of distance along the z-axis. From this information, determine the e-component of the electric field at each of the following displacements. 60 2 50 40 30 20 10 0 x (m) (a)0.50 m Number Units (b) 1.50 m Number Units...
##### After Prof. Toner has had a chance to review the theo Question 26 A local juice...
after Prof. Toner has had a chance to review the theo Question 26 A local juice manufacturer distributes juice in bottles labeled 12 ounces. A government agency thinks that the comme customers. The agency selects 20 of these bottles, measures their contents and obtain samen 117 hard deviation of 0.7...
##### Explore the usefulness of using the Human Development Index (HDI) as a key measurement indicator in...
Explore the usefulness of using the Human Development Index (HDI) as a key measurement indicator in your country. Explain how can this indicator assist policymakers in decision-making? In your response you should: Define the HDI and Explain how it is calculated Using examples, determine the usefuln...
##### Please help. thankyou. will leave a thumbs up 2. A bicycle has a momentum of 24...
please help. thankyou. will leave a thumbs up 2. A bicycle has a momentum of 24 kg•m/s. What momentum would the bicycle have if it had: (30 points) a. twice the mass and was moving at the same speed? b. the same mass and was moving with twice the speed? c. one-half the mass and was moving with ...
##### Kinetic energy, finding radius of protons path
A 6.5-MeV (kinetic energy) proton entersa 0.20-T field, in a plane perpendicularto the field. What is the radius of its path?...
##### IOods au. 449. The nurse asks a client with a history of alcoholism about recent drinking...
IOods au. 449. The nurse asks a client with a history of alcoholism about recent drinking behavior. The client states*"I didn't hurt anyone. I just like to have a good time, and drinking helps me to relax." The client is using which defense mechanism?...
##### Air Tair 0 乚 For the Pitot Tube in the Figure above, the fluid in the...
Air Tair 0 乚 For the Pitot Tube in the Figure above, the fluid in the manometer is Water with a temperature of Twater -20 °C, a density of Pwater 1004 kglm3 and a viscosity of ater 0.001 kglm. s The air flow has a temperature of Tair 20 °C, a density of Pair 1.2 kg/m3 and a viscosity ...
##### Titanium reacts with bromine gas according to the following balanced chemical equation: 2Ti(s)+3Br2(l)→2TiBr3(s) A: What mass...
Titanium reacts with bromine gas according to the following balanced chemical equation: 2Ti(s)+3Br2(l)→2TiBr3(s) A: What mass of titanium(III) bromide is produced when 139.29 g titanium reacts with 553.73 g bromine liquid? in gTiBr3 B: What is the percent yield of titanium(III) bromide if 556.0...
##### How do you factor a^3 +16a^2 + 64a?
How do you factor a^3 +16a^2 + 64a?...