Answer:
The write-off to be approved by two employees
Explanation:
Allowance Method
This method is capitalizes on matching principle. The key work is to record bad debts expense in the same period as the sales revenue.
Direct Write-off Method
This is simply known as when an accounts receivable are written off and bad debts expense is recorded when the company determines that it will not be able to collect from a specific customer.
Method used
Record bad debts expense and reduce accounts receivable
Debit: Bad Debts Expense
Credit: Accounts Receivable
Recovery method
Step 1: Reverse earlier write off
Debit: Accounts Receivable
Credit: Bad Debts Expense
Allowance For Bad Debts Account
It is usually in a contra asset account, in relation to accounts receivable, that holds the estimated amount of uncollectible accounts. The account is said to limits the asset receivable in anticipation of uncollectible debts.
True Biweekly is 26 Semimonthly is 24
No because you might loose money with them having discrepancies in their financial records. They may also be doing illegal activities such as laundering money or other things that are against the law.
Answer:
The amount each firm produces would be 2,500 units per month
Explanation:
According to the given data we have the following:
demand curve for hydrogen fuel cells= P = 1,300 – 0.08Q
marginal cost=$500
Therefore, in order to calculate the amount each firm produces we would have to use the following formula:
MR = MC
This gives 1300 - 0.16Q = 500 or Q = 5000 units
Therefore, The amount Each of them would be producing= 5,000/2 = 2500 amount Each of them would be producing=2,500 units per month
The amount each firm produces would be 2,500 units per month