Answer: $47,200
Explanation:
Accounts receivable not yet due = $560,000
Bad Debts for accounts receivable not yet due:
= $560,000 × 0.01
= $5,600.
Accounts receivable due for up-to 180 days = $120,000
Bad Debts for accounts receivable due for up-to 180 days:
= $120,000 × 0.16
= $19,200.
Accounts receivable due for more than 180 days = $99,000
Bad Debts for accounts receivable due for more than 180 days:
= $99,000 × 0.20
= $19,800
Ending balance of Allowance account:
= Debit Balance of allowance account + $5,600 + $19,200 + $19,800
= $2,600 + $5,600 + $19,200 + $19,800
= $47,200
Answer:
D. Return to the original output and price level.
Explanation:
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.
In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
Generally, an economy will return to its original level of output (production) and price level when the short-run aggregate supply curve falls (decreases) and no changes in monetary and fiscal policies are implemented. Fiscal policy refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as aggregate demand (AD), aggregate supply (AS), inflation, and employment within a country.
Answer:
the answer is a demand curve
Explanation:
Answer:
D) 6.55%
Explanation:
Please see attachment . The correct answer is D) 6.55%
Answer:
yes
Explanation:
As we know that the unearned revenue is a liability account that contains the normal credit balance also the sales revenue i.e. a revenue account contains the normal credit balance.
So if the unearned revenue is incorrectly listed as a sales revenue so still the trial balance is in the balance as both accounts have a credit balance
Therefore, the given statement is true
