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NWP Assess

Question $4$

Launch Mee

Turkey Food

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Question $4$ of $4$

$\frac{11\mathrm{.}25}{30}$

$($a$3)$

Prepare the entry for bad debt expense for the current year assuming allowance for doubtful accounts is $$1,900,$ but it is a credit balance and the allowance should be $3\%$ of gross accounts receivable. $($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 and enter $0$ for the amounts. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

$$

$$

$$

eTextbook and Media

List of Accounts

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Attempts: $0$ of $5$ used

$($a$4)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

Your answer is incorrect.

During the current year, Sheridan Corporation expects to produce $10,000$ units and has budgeted the following: net income $$360,000$; variable costs $$1,090,000$; and fixed costs $$110,000.$ It has invested assets of $$1,950,000.$ What was the company's budgeted ROI? What was its budgeted markup percentage using a total cost approach?

Budgeted ROI per unit

$

Budgeted markup percentage $\%$