gross government debt minus all government interagency borrowing
Answer:
The cash collection on September 9 is records by the entry:
Debit Cash $5,300
Credit Accounts Receivable $5,300
Explanation:
Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:
Debit Allowance for Doubtful Accounts $5,300
Credit Accounts Receivable $5,300
On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:
1. Debit Accounts Receivable $5,300
Credit Allowance for Doubtful Accounts $5,300
2. Debit Cash $5,300
Credit Accounts Receivable $5,300
Answer:
Explanation:
Before trade price is 1.75 and quantity is 125 million tons
After free trade, world price becomes domestic price so it is $1 per ton
At this price quantity supplied is 50 million tons and quantity demanded is 200 million tons
Amount of imported coal is the difference between QD and QS which is 200 - 50 = 150 million tons
Till 50 million tons, domestic supppliers supply. From 50 to 100 million tons, the foreign producers supply and after 100 million tons, domestic supply shifts so the new domestic price after quota is 1.50 per ton
At this price total supply is 150 million tons and total demand is also 150 tons. Domestic supply is 100 million tons and domestic demand is 150 million tons
New amount of imports are 50 million restricted by quota
Revenue to government is quota rents and it is (1.50 - 1.00)*50 million = 25 million. Revenue to producers is 0.5*(1.50 - 0.50)*100 million = $50 million