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eduard
3 years ago
8

A company collects an account receivable previously written off. Indicate how this transaction would affect:______.a. assets, st

ockholders' equity, and revenues. b. increase, increase, increase. c. increase, increase, decrease.d. increase, decrease, increase. e. no effect.
Business
1 answer:
gizmo_the_mogwai [7]3 years ago
7 0

Answer:

b. increase, increase, increase

Explanation:

When an amount previously written off is collected, the entries required to account for the collection are

Debit cash account

Credit other income account.

This will increase asset (in form of cash), increase stockholders' equity (in form of net income) and increase revenue.

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Answer:

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3 years ago
there is a surplus of a new brand of cereal on the market. what will likely happen to the price of the cereal?
Lerok [7]

Answer:

The price of the cereal would fall.

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In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

When there is a surplus of a new brand of cereal in the market. What will likely happen to the price of the cereal is that the its price would fall.

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MA_775_DIABLO [31]

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