Sua midterm Study guides, Class notes & Summaries

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SUA Midterm Question and answers already passed 2023/2024
Exam (elaborations) • 5 pages • 2024
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SUA Midterm Question and answers already passed 2023/2024 For making provisions for Bad Debt the journal entry is: Dr. Allowance for Doubtful Accounts Cr: Accounts Receivable - correct answer False, that is to write off an account as uncollectible. Freight-In Balance in GL is required for calculating COGS - correct answer True Bad Debt Expense is calculated after multiplying a certain percentage by Gross Sales - correct answer False, it is by CREDIT sales

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SUA Midterm(questions & answers)graded A+

SUA Midterm(questions & answers)graded A+
Exam (elaborations) • 5 pages • 2023
Available in package deal

SUA MidtermFor making provisions for Bad Debt the journal entry is: Dr. Allowance for Doubtful Accounts Cr: Accounts Receivable - correct answer False, that is to write off an account as uncollectible. Freight-In Balance in GL is required for calculating COGS - correct answer True Bad Debt Expense is calculated after multiplying a certain percentage by Gross Sales - correct answer False, it is by CREDIT sales You have done the year ending adjustment entry in the General Journal to...