Answer: Choosing one particular action for a situation
randomly
Explanation: A pure strategy is used to define the actions of the user in the particular situation. In such case, the user choose one alternatively from two or more and do not mix them.
Whereas, in a mixed strategy the user chooses its action from a number of alternatives in a random manner and not on the basis of any predetermined criteria as in the case of pure strategy.
Answer:
Explanation:
Before passing the journal entry, we have to find out the bad debt expense amount which is shown below:
Bad debt expense = Account receivable balance × uncollectible percentage + debit uncollectible account balance
= $130,000 × 20% + $2,100
= $26,000 + $2,100
= $28,100
So, the journal entry would be
Bad debts expense A/c Dr $28,100
To Allowance for uncollectible accounts $28,100
(Being uncollectible accounts is adjusted)
Answer:
A. an overstatement of net income and an understatement of liabilities.
Explanation:
Answer:
Comparative advantage
Explanation
Comparative advantage is a theory that refers to the ability to produce products at a lower opportunity costs than others. This concept means that if a country is better than other producing two products, specialization still can happen as the second country can produce one of the products better and it will specialize as it has a comparative advantage and like that each country focuses on what they can produce more efficiently.
Answer:
Explanation:
The journal entries are shown below:
a. Inventory A/c Dr $26,000
To Notes payable A/c $26,000
(Being inventory is purchased for signing the short term notes payable)
b. Interest expense A/c Dr $780
Notes payable A/c Dr $26,000
To Cash A/c $ $26,780
(Being cash is paid on maturity)
The interest expense is computed below:
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $26,000 × 6% × (6 months ÷ 12 months)
= $780
The 6 months is calculated from March 1 to September 1
