Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. aaron servicing showed the following partial unadj

Aaron Servicing showed the following partial unadjusted results at October 31, 2020, its year-end: ...

60.1K

Verified Solution

Question

Accounting

Aaron Servicing showed the following partial unadjusted results at October 31, 2020, its year-end:

Account Debit Credit
Sales $ 1,610,000
Accounts receivable $ 145,000
Allowance for doubtful accounts 3,000

Part 1 Required: a. Assuming Aaron estimates bad debts to be 1.5% of sales, prepare the adjusting entry at October 31, 2020.

b. Show how accounts receivable would be shown on the October 31, 2020, balance sheet using your calculations in (a).

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Hi all, Can someone please answer this question. Please list steps! Thanks! You have the chance to...

Finance
Q

         PX = $9500   PY = $10000   I = $15000   A = $170000   W = 160 This function...

Economics
Q

Magnetic moment associated with an electron moving at speed vin a circular orbit of radius...

Physics
Q

An undergraduate statistics class is assigned a project in which they are to sample 500...

Basic Math
Q

When determining whether there is a correlation between two variables one should use a to...

Statistics
Q

14 Solve the following for c Remember to look for common factors first 32c 20c...

Algebra
Q

Is the function y = (x ?4) a one-to-one function? Justify your answer.

Algebra
Q

Please help me to fill out the blanks, I will make sure to upvote. Thank...

Accounting
Q

Which of the following cases meet the substantively the same governing body criterion? Is this...

Accounting
Q

[The following information applies to the questions displayed below.) Altira Corporation provides the following information...

Accounting
Q

A. Explain the principles and consequences of a "disguised sale" in the contribution of property...

Accounting
Q

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula....

Finance