A Company That Uses the Allowance Method to Account for Its

question 103

Essay

A company that uses the allowance method to account for its bad debts had credit sales of $740,000 in 2010,including a $720 sale to Linda Paul.On December 31,2010,the company estimated its bad debts at 1.5% of its credit sales.On June 1,2011,the company wrote off as uncollectible the $720 account of Linda Paul; and on December 21,2008 Linda Paul unexpectedly paid her account in full.Prepare the necessary journal entries (a)on December 31,2010,to reflect the estimate of bad debts expense; (b)on June 1,2011,to write off the bad debt; and (c)on December 21,2011,to record the unexpected collection.

Recognize the importance of situational control according to Fiedler's contingency model of leadership.

Understand different leadership theories and their applications.

Recognize the impact of gender on leadership effectiveness and style.

Identify the characteristics and behaviors of transformational and charismatic leaders.

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Definitions:

Marry

The legal or formal union of two individuals as partners in a personal relationship, recognized and sanctioned by civil, religious, or social conventions.

Adults

Individuals who are considered to have reached maturity in their society, typically marked by reaching a certain age or stage of development.

Age 45

A specific point in life, considered middle age, where individuals often experience significant life evaluations and transition.

Middle-Aged Adults

Individuals typically in the age range of 40 to 65 years, often experiencing significant life events such as career transitions and health changes.