Answer: $15,500
Explanation:
First we calculate the estimated Uncollecteble debt,
= 6% of 310,000
= 0.06 (310,000)
= $18,600
We will then subtract the existing $3,100 to find out how much we will send to the Bad Debt Expense account because the amount already in the account needs to be included in the $18,600.
= 18,600 - 3,100
= $15,500
We will therefore Debit the Bad Debt Expense account with $15,500 and Credit the Allowance for Doubtful Accounts with the same amount.
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Answer:
The correct answer is B.
Explanation:
Trade between individuals and between nations leads to: Increased Specialization
B. Evaluation
Evaluating means to systematically determine somethings merits and significance, including the seriousness or gravity of a problem.
People need to have [Purchasing Power] in the economy to be able so spend money. Purchasing power means having the financial ability to spend money in buying goods and services.
