If the forward contract was not acquired, record the journal entry to purchase the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles enter o for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit

Q: alternate answer?

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A: Molding FabricationMachine Hours $      2,500.00 $      1,500.00Fixed Manufacturing Overhead cost  $…

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A: Free Cash Flow Free Cash flow which can be determined by using the amount of net operating cash flow…

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A: Equivalent unit of production is multiplied by cost per equivalent unit to compute the assignment of…

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A: Post Column : It is the Column through which book keeper identify whether journal entries are…

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A: IFRS:It stands for International Financial Reporting Standards, a set of accounting standards…

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A: Statement of Comprehensive Income: Comprehensive income is a measure of the changes in owners'…

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A: Introduction:- Board of directors:- Board of directors play vital role in every organization for…

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A: The correct answer is  a. Lead schedule

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A: Here, Annual deposits = $1,400 Annual interest rate = 5% Total years to annual deposits = 10 years…

Q: How can forwardrates be used for hedging purposes?

A: SOLUTION:- Risk management is the main stimulus for forward contracts. Forward contract is a…

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A: Accounts receivable is amount that is yet to be recovered from the customers to whom goods or…

Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.