## Answers

Innovative tech Inc. ( ITI ) | |||

Nov. 30 - Journal entry | |||

Nov. 30 | Bad debts exp.( 100000 *0.5% ) | 500 | |

Allowance for doubtful debts | 500 | ||

Aging schedule | |||

Totals | Allowance % | Allowance needed | |

1 to 30 | 75000 | 10.00% | 7500 |

31- 90 | 10000 | 20% | 2000 |

more than 90 | 4000 | 40% | 1600 |

89000 | 11100 | ||

2. Journal entry | |||

Dec. 31 | Bad debts exp.( 11100 - 1600 ) | 9500 | |

Allowance for doubtful debts | 9500 | ||

Part 3- BS presentation | |||

Gross amount of A/R | 89000 | ||

Less;- Allowance for doubtful debts | 11100 | ||

NRV | 77900 |

#### Similar Solved Questions

1 answer

##### 5. Prove that the center of a group is the intersection of all the centralizers. 6....

5. Prove that the center of a group is the intersection of all the centralizers. 6. Is the center of a group abelian? For any group element g is the centralizer of g abelian? 7. Prove that a group of even order must have an element x so that x= 2....

1 answer

##### You are considering investing $1000 in a complete portfolio. The complete portfolio is composed of Treasury...

You are considering investing $1000 in a complete portfolio. The complete portfolio is composed of Treasury notes that pay 5% and a risky portfolio, P, constructed with two risky securities X and Y. The optimal weights of X and Y in P are 60% and 40% respectively. X has an expected rate of return of...

1 answer

##### As described above, prior to a primer extension reaction, a solution containing the primer and double...

As described above, prior to a primer extension reaction, a solution containing the primer and double stranded template DNA are heated to 95 degree C and then cooled back to room temperature. Why is this step necessary Would it matter if you added the dNTPs or DNA polymerase before or after this ste...

1 answer

##### EgxQLydsflgQ/viewform?hr_submission=Chgl KuH6VgSEAJH 2 points Which situation could be modeled as a linear equation? 1) The value...

egxQLydsflgQ/viewform?hr_submission=Chgl KuH6VgSEAJH 2 points Which situation could be modeled as a linear equation? 1) The value of a car decreases by 10% every year. 2) The number of fish in a lake doubles every 5 years. 3) Two liters of water evaporate from a pool every day. 4) The amount of caff...

1 answer

##### Using the electronegativity table and the rules (suggesting a difference in electronegativity below 0.4 as equally...

Using the electronegativity table and the rules (suggesting a difference in electronegativity below 0.4 as equally shared, 0.5 - 1.8 polar covalent and greater than 1.8 as ionic) how would the bonds in BeBr2 (electronegativity of Be is 1.5 and Br is 2.8) would be classified as...

1 answer

##### The next dividend payment by Savitz, Inc., will be $2.95 per share. The dividends are anticipated...

The next dividend payment by Savitz, Inc., will be $2.95 per share. The dividends are anticipated to maintain a growth rate of 2 percent forever. If the stock currently sells for $47 per share, what is the required return? Multiple Choice 2.00% 6.28% 7.86% 8.28% 8.11%...

1 answer

##### 7. (-/1 Points] DETAILS LARCALC11 15.7.018. Use the Divergence Theorem to evaluate J. F.Nds and find...

7. (-/1 Points] DETAILS LARCALC11 15.7.018. Use the Divergence Theorem to evaluate J. F.Nds and find the outward flux of F through the surface of the solid s bounded by the graphs of the equations. Use a computer algebra system to verify your results. F(x, y, 2) - xy + 8yj + xzk S: x2 + y2 + 2- 64 N...

1 answer

##### 2.5 points Save Answer Find the indicated probability. Among the contestants in a competition are 46...

2.5 points Save Answer Find the indicated probability. Among the contestants in a competition are 46 women and 23 men. If 5 winners are randomly selected, what is the probability that they are all men? 0.02455...

1 answer

##### Not secure Webassign.net/web/Student/Assignment Responses/last?dep=23824123 E-/10 Points) DETAILS LARCALC11 15.4.028.MI. 0/6 Submissions Used MY NOTES Use Green's...

Not secure Webassign.net/web/Student/Assignment Responses/last?dep=23824123 E-/10 Points) DETAILS LARCALC11 15.4.028.MI. 0/6 Submissions Used MY NOTES Use Green's Theorem to calculate the work done by the force F on a particle that is moving counterclockwise around the closed path C. FOX.Y) (3x2...

1 answer

##### Comparative figures for Apple and Google follow. Apple One Year Two Years Google One Year Two...

Comparative figures for Apple and Google follow. Apple One Year Two Years Google One Year Two Years Prior Current Current Year $ 18, 336 110, 855 $ millions Accounts receivable, net Net sales Year $ 17,874 229, 234 Prior Prior Prior $11, 556 74, 989 $ 15, 754 215, 639 $ 16, 849 233, 715 $14, 137 90,...

1 answer

##### 4) A 20 year, 4%, $1000 face value bond paying annual coupons is callable at par...

4) A 20 year, 4%, $1000 face value bond paying annual coupons is callable at par at the end of any year from 15 on. a) How much should an investor pay if they want to earn at least 6% until the bond is called (or matures). b) How much should an investor pay if they want to earn at least 3% until the...

1 answer

##### A triangle with equal sides of length 14 cm has -2.5-nC charged objects at each corner....

A triangle with equal sides of length 14 cm has -2.5-nC charged objects at each corner. Determine the magnitude of the electrical force exerted on the object at the top corner due to the two objects at the base of the triangle....

1 answer

##### Please show work? Determine whether the integral is convergent or divergent. If it is convergent, evaluate...

please show work? Determine whether the integral is convergent or divergent. If it is convergent, evaluate it. (If the quantity diverges, enter DIVERGES.) 1+1 61 +2= convergent divergent...

1 answer

##### Please use a simpler method. Help Save & Exit Submit At a local community college, 59%...

please use a simpler method. Help Save & Exit Submit At a local community college, 59% of students who enter the college as freshmen go on to graduate. Seven freshmen are randomly selected. a. What is the probability that none of them graduates from the local community college? (Do not round int...

1 answer

##### Stephen, Hudson, andChris have capital balances of $22,000, $41,000, $90,000. The partners share profit as 1:1:3,...

Stephen, Hudson, andChris have capital balances of $22,000, $41,000, $90,000. The partners share profit as 1:1:3, respectively. The partnership had net income of $110,000 for the year. Journalize the closing entry to allocate the net income. (R...