As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve
<h3>What is a Demand Curve?</h3>
This refers to the graph or pictorial representation that shows how the demand for a commodity or service varies with changes in its price.
Hence, we can see that As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve
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Answer:
The December 31st balance in Allowance for Doubtful Accounts, after the AJE is $69,600
Explanation:
Allowance for doubtful debts is a provision created by the entity for those Accounts Receivables for which settlement may never be received.
Juan, Inc. estimates bad debt expense as 2% of Accounts Receivable for the year
Therefore Provision for allowance for doubtful debts is $3,480,000 × 2% = $69600
Answer:
$149,000
Explanation:
The computation of the amount of net sales is shown below:
= Sales revenue - sales return & allowance - sales discount
= $156,000 - $2,000 - $5,000
= $149,000
We simply deduct the two items from the sales revenue so that the net sales revenue could be come and the same would be reported on the income statement