Answer:
'Bad debts write off' AND 'Recovery of Bad debts written off'
Explanation:
The Journal entry to <u>write off a bad account affects only balance sheet accounts</u>:
a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.
<u>No expense or loss is reported on the income statement </u>because this write-off is "covered" under the earlier adjusting entries for estimated bad debts expense.
HOWEVER in scenario 2 where transaction involves a cashflow, it is a bad debt recovered transaction because upon recovery of bad debt previously written off
a debit to <u>CASH </u>and credit to Bad debts recovered account
Answer: d- system failure
Explanation:
Answer: D
Explanation:
According to the Microsoft support website, "Move the cursor to another record to commit your changes to the database or press Shift+Enter. By default, the quotation marks disappear."
Answer:
True
Explanation:
Congress and the president decide that the united states should reduce air pollution by reducing its use of gasoline. they impose a $0.50 tax on each gallon of gasoline sold. who should they impose this tax on? consumers producers it doesn't matter if the demand for gasoline were more elastic, this tax would be effective in reducing the quantity of gasoline consumed. True consumers of gasoline are hurt by this tax.
True:workers in the oil industry are hurt by this tax.
It doesn't matter, because the impose tax will hurt more