Near the End of 20B,the Ledger of Dice Company Included

question 3

Essay

Near the end of 20B,the ledger of Dice Company included the following accounts and balances:
Cash collections on trade receivables during 20B amounted to $148,500.Sales revenue during 20B amounted to $200,000,of which 75% was on credit,and it was estimated that 2% of the credit sales made in 20B would ultimately become uncollectible.Before adjusting entries were made for 20B,(a)a $600 account was determined to be uncollectible and written off by Dice and (b)bad debt expense was recorded to 20B.These adjustments are not reflected in the account balances above.
After the above entries were posted to the ledger,the account balances were as follows (give the amount under the appropriate debit or credit column):

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Definitions:

Patient-Visits

The number of occasions when patients receive care from healthcare facilities or providers.

Static Planning Budget

A budget based on a fixed level of activity and does not change in response to variations in the level of actual activity.

Revenue Variance

Variation between the projected revenue and the actual revenue earned by a business.

Spending Variances

Differences between the budgeted or standard cost of costs and the actual costs incurred, often analyzed in terms of overhead and materials spending.