At december 31, 2013, dustin company reported this information on its balance sheet. course hero12/27/2023 That is why it is such a dangerous form of abuse. Because of its subtly, this cunning Machiavellian behaviour is a deeply insidious set of manipulations that is difficult for anybody to work out, and with time it finally undermines the mental stability of the victim. Gaslighting involves the abuser to frequently and systematically withhold factual information from the victim, and replacing it with false information. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that.The intention is to, in a systematic way, target the victim’s mental equilibrium, self-confidence, and self-esteem so that they are no longer able to function in an independent way. (d) Compute the accounts receivable turnover and average collection period.Īccounts receivables are debts owed to your company, usually from sales on credit. (c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000. (b) Enter the January 1, 2014, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. Assume that no cash discounts were taken on the collections of accounts receivable. (a) Prepare the journal entries to record each of these five transactions. Recovery of bad debts previously written off as uncollectible. Write-offs of accounts receivable deemed uncollectible. 78,000ĭuring 2014, the company had the following transactions related to receivables.ġ. At December 31, 2013, Dustin Company reported this information on its balance sheet.
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