Andrews Company accepted a note receivable from a credit customer who failed to pay their $2,000 Accounts Receivable balance. The customer signed a promissory note which was accepted for 9 months at 5% interest. At the end of the 9 months, the customer does not pay, so it becomes a dishonored note receivable.

Answers

Answer 1

Answer:

Answer:

First.At the time of delivery of the document, the company must cancel the customer's debt and register the document to charge more interest.( 2.000 x 0.05 = 100)

Notes receivable 2.100

interest to accrue 100

accounts receivable 2.000

Second. Then at the time of payment the client does not pay. The company must cancel the document and interests and according to its criteria, it can register an asset (1), a doubtful credit provision (2) or a loss (3) for this credit.

Notes receivable 2.100

interest to accrue 100

(1)accounts receivable 2.000

(2)provisions on doubtful debts

(3)bad debts

Related Questions

plss someone give me a 3 examples of business objectives with timeframe (our product is reselling the shoes) plss i need it
If the price elasticity of demand for U.S. automobiles is higher in Europe than it is in the United States, and transport costs are zero, a price-discriminating monopolist would charge:__________. a. a less profitable price for autos in the United States than in Europe. b. a lower price for autos in the United States than in Europe. c. the same price for autos in the United States as in Europe. d. a higher price for autos in the United States than in Europe.
which strategy of corporate social responsibility meets economic, legal, and ethical responsibilities but not discretionary responsibilities?
Which type of risk is most likely to be insurable? A. Pure risk B. Speculative risk C. Equity risk D. Investment risk
A U.S.-based MNC has just established a subsidiary in Algeria. Shortly after the plant was built, the MNC determines that its exchange rate forecasts, which had previously indicated a slight appreciation in the Algerian dinar, were probably false. Instead of a slight appreciation, the MNC now expects that the dinar will depreciate substantially due to political turmoil in Algeria. This new development would likely cause the MNC to ____ its estimate of the previously computed net present value.

Logistics is most closely related to which element of the marketing mix?

Answers

Answer: place mix

Explanation: The process of moving products from the producer to the intended user is referred to as place in the marketing mix. That is, how your product is purchased and where it is purchased. This transfer could be through a mix of manufacturers, wholesalers and retailers

Logistics is the management, from one place to another, of transport or information. Logistics involves a lot of things such as transport, stock, packaging, materials, and sometimes safety.

Hence from the above we can conclude that logistics is the element of place mix.

The Krisp Kracker company which makes unique kettle chips for restaurants, clubs, and events, has just lost a large client that made up 55% of its total revenue. Management finds it necessary to reduce staff or wages. This comes only three months after hiring 35 new people to support this big client. While there are rumors of wage reductions in the short run, the 100 employees who have been with the company for the past two years are grumbling that they are more valuable that the new hires which should be let go and the wages not reduced. The situation at Krisp Kracker illustrates which wage stickiness theory best?A. Implicit contract theory

B. Insider-outsider model

C. Relative wage coordination argument

Answers

Answer:

Explanation:

The insider - outsider model explains the influence of the insiders on the firm;s behavior , wages negotiation and the national welfare.

In this context , the set of employees that have been working with the organization are referred to as the Insiders while the newly recruited are the outsiders.

This theory believes that the insiders are more relevant to the firm than the outsiders as they are more experienced in the system and the firm even rely on them to train the outsiders.

assume that the average number of units demanded is 10 gauges per hour, with a lead time 2 hours and container size 5. we also want to keep a 20% safety stock. how many kanban card sets do we need?

Answers

We need 5 Kanban card sets to meet the demand of 10 gauges per hour, with a lead time 2 hours and container size 5, and 20% safety stock requirements

To calculate the number of Kanban card sets needed, we will use the following formula: Number of Kanban card sets = (Demand × Lead Time × (1 + Safety Stock %)) / Container Size

Given the details in your question:
- Average demand: 10 gauges per hour
- Lead time: 2 hours
- Container size: 5 gauges
- Safety stock: 20%

Now let's plug these values into the formula:
Number of Kanban card sets = (10 gauges/hour × 2 hours × (1 + 20%)) / 5 gauges

First, calculate the safety stock factor: 1 + 20% = 1 + 0.2 = 1.2

Next, multiply demand, lead time, and safety stock factor:
10 gauges/hour × 2 hours × 1.2 = 24 gauges

Finally, divide the result by the container size:
24 gauges / 5 gauges = 4.8

Since we can't have a fraction of a Kanban card set, we round up to the nearest whole number. Thus, we need 5 Kanban card sets to meet the demand, lead time, and safety stock requirements.

To know more about demand refer here:

brainly.com/question/30831801#

#SPJ11

The factor that determines whether a product is classified as a consumer product or an industrial product is:

Answers

Answer:

The answer is the end use of the product

Explanation:

The end use of a.product determines whether the product is s consumer or an industrial product.

A consumer product is a finished product. They are ready for immediate consumption. Consumers buy and eat it. For example, biscuits, coke etc

An industrial product is a product e.g raw materials, machinery, that is used to produce finished goods. Businesses and firms use industrial product to produce finished goods.

If there is a great demand for a product, the production for that product will increase
Decrease
stay the same

Answers

production for that product will increase.

Production will increase due to supply and demand

The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain

Answers

Revenue is the product of price times volume (R = P * V). The problem for the farmers is that because the price of cheese (P) went up, demand for it (V) went down. Essentially, the government raised prices to a level higher than what many people wanted to pay. The farmers made more money with lower prices because they sold a lot of cheese (a high volume, in the terminology of the formula). The potential for these artificial imbalances is why markets are generally more effective than governments at setting prices.

Other Questions

Sociologists use the term ____ to describe how corporations now dominate the global economy.A. Global business. B. Corporate capitalism. C. Interlocking directorates. D. Convergence theory.

What are depository and non depository financial institutions? How do they differ?

Choose the word that best completes this sentence. Per OSHA’s rules, employers in the construction industry must provide required personal protective equipment at ____________ to workers. (A) Increased price(B) Low cost(C) No cost(D) reduced price

As a homeowner under the jurisdiction of a homeowners' association (HOA), it is safe to assume that A. the HOA does not affect decisions you make about your own property. B. you do not have to pay HOA dues. C. it's best to consult the HOA before planning a remodeling project. D. the HOA cannot enforce deed restrictions.