Answer: One that decreases taxes and increases spending
Explanation: got it wrong
Answer: Please see the required journals below:
December 31:
Debit Bad debt expense $6,034
Credit Allowance for doubtful accounts $6,034
February 1:
Debit Allowance for doubtful accounts $431
Credit Accounts receivables $431
June 5:
Debit Cash $431
Credit Bad debt recovery (income statement) $431
Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.
Answer: 2
Explanation: You don't automatically gain foresight when you start a business
Answer:
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The best choice would be Choose Make-to-Order Process.
Option b
<u>Explanation:</u>
Make to order (MTO) also known as made to order, is a type of business production strategy which allows the customers to buy the products that are designed or customised based on their own specifications.
In simpler words, this process involves the production of customised goods after the consent of the consumers.
Here it has been mentioned that the demand is 10,000 units per month and the capacity of the company production is 15,000 units. So, it can be inferred that the company would have enough time to produce the goods based on the desirability of the customers. (customised products).
Therefore, the best choice would be Choose make-to-order process.
