Answer:
$37,000
Explanation:
The computation of the bad debt expense is shown below:
= Amount estimated as uncollectible + written off amount - credit balance of allowance for bad debts
= $28,000 + $15,000 - $6,000
= $37,000
We simply applied the above formula to determine the bad debt expense. Hence, all other information which is given is not relevant therefore, ignored it
Answer:
3) owes the company for towing her car under an implied contract
Explanation:
An implied contract is formed when both parties mutually agree to a contract without necessarily having a signed written contract. In this case, Carl called the towing company and requested the service, so she agreed to her car being towed and therefore must pay for the services.
Answer: True
Explanation:
A convenient product is the product that is relatively inexpensive item that merits little shopping effort.
A convenient product refers to an inexpensive product which requires a little amount of effort from the consumer to purchase it. Some examples of convenience products include soft drink, bread, coffee.
Therefore, the statement given is true.