I'm pretty that would be: A.) True.
You need to modify your questions
Answer:
Equilibrium price and quantity
$6.44 and 6768
Consumer surplus
$571,081
Producer Surplus
$5,288
Explanation:
In this question, we are asked to calculate equilibrium price and quantity, consumer surplus and producer surplus.
Please check attachment for complete solution and step by step explanation
Answer:
See explanation section.
Explanation:
A) Accounts Receivable $8,780
Sales Revenue $8,780
<em>Sarasota Company sold its specialty shelving to Elkins Office Supply Co. on account.</em>
(b) Sales Returns and Allowances $215
Allowances for Sales Returns and Allowances $215
<em>To record an additional $215 in allowances to Elkins. </em>
(c) Allowance for Sale Returns and Allowances $706
Accounts Receivable $706
<em>To record an allowance of $706 when some of the shelving does not meet exact specifications. It means the products were damaged or defected.</em>