The Following Information Is Available for Phoenix Corporation,which Uses the Allowance

question 5

Essay

The following information is available for Phoenix Corporation,which uses the allowance method of accounting for uncollectible accounts.Phoenix expects 3% of sales on account to be uncollectible.
Required: a)Calculate the amount of uncollectible accounts expense for 2016.
b)Prepare the journal entry to record uncollectible accounts expense for 2016.
c)In 2017,after several attempts of collection,Phoenix wrote off accounts that could not be collected of $700.Prepare the journal entry to record the write-off of the $700.
d)Later in 2017,Phoenix received a check for $140 from one of the customers whose account had been written off in c),above.Prepare the required journal entries to record the collection of the $140.

Comprehend the concept of integration and methods to achieve it within an organization.

Understand the effects of functional structures on organizational behavior and structure.

Grasp the significance of rules, regulations, and procedures in defining organizational structure and behavior.

Understand the basic structure and functional areas of the human brain.

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Definitions:

Rationality

The quality of being based on or in accordance with reason or logic; typically applied in the context of human decision-making processes that are logical, sensible, and based on clear thinking or reason.

Synthetic A Priori

A concept in epistemology that denotes judgments that are derived independently of experience while still providing new knowledge.

Kant

A profound influential philosopher, Immanuel Kant is celebrated for his work in the critique of pure reason and his moral philosophy that emphasizes duty, autonomy, and the moral law.

Authoritative Knowledge

Knowledge or information that is widely accepted and respected, often due to its source's credibility or its empirical verification.