<span>An economy moves from short-run equilibrium to its long run equilibrium as a result of the upward adjustment of minimal wages, prices, and perceptions to a new price level. If government spending increases, total demand will increase as well.</span>
Answer:
($35 million + $12 million) / $70 million = 0.6714
Explanation:
Answer:
$3,553
Explanation:
Credit losses = Net credit sales × Historical percentage of credit losses
= $131,750 × 3%
= $3,953
Allowance for doubtful account has a credit balance of $400
The estimated bad debt expense can therefore be calculated as:
Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance
= $3,953 - $400
= $3,553
Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553
<span>Money is anything that people are willing to accept to use for payment for goods and services.The purpose of money can be described as follows:
</span>store of value - money is a way of saving for future purchases
unit of account - money <span>represents the real value (or cost) of any economic item.</span><span>
medium of exchange- </span>Money serves as a medium of exchange.
