Answer:
The entry will be:
May 3
Dr Allowances for doubtful debt 3,700
Cr Account Receivable 3,700
(to record written-off of receivables)
Explanation:
As the company uses the allowance method of accounting for uncollectible accounts, the company would actively review and book bad debt expenses for any debt in doubt of collection. The entry would be: Dr Bad Debt Expenses & Cr Allowance for doubtful debt.
When there is sufficient evidences that these debts go default, no more expenses will be recorded, instead, the account receivable will be written off ( Cr) with the offsetting entry is Dr Allowance for doubtful debt.
A creditor is someone that gives or provides credit to a person or to a company. This someone an either be a person, a bank or a supplier in which they want to owe someone their money. This someone is called the creditor. The amounts or the money owed to the creditor are recorded in a company's balance sheet. When the time came for the creditor to pay the amount, then that will be the payment creditor.
National governments usually borrow money to fund their current expenditures as it to cover up their debts
Answer:
Price strategy should be specific to the Target market
Explanation:
Price strategy is decided based on various factors which induce, market conditions, operating decision, taste, and demand/supply and target market. According to the theory of pricing strategy, the operating and market conditions vary based on population, country and cities. The only important factor is the target market and the price strategy must be based on that.
Answer:
B) fall
Explanation:
if Microsoft were to increase its price, its total revenue would fall
