To have happy consumers and welcoming them so they can come back knowing that the company has really good customer service and which is a huge thing in owning a business. If you can communicate to your consumers then its pretty bad.
<u>Solution and Explanation:</u>
Age of the Amount Estimated Estimated
Receivables Uncollectibles Uncollectible Amounts
1-30 days old $12,000 3% $360
31-90 days old $5,000 15% $750
more than 90
days old $3,000 30% $900
Estimated year end Balances for Uncollectible Amounts $2,010
Bad Debt Expense for the year : Estimated Uncollectible Amount - Existing Credit Balance in the Allowance Account
Bad Debt Expense : $2,010 minus $800 = 1210
If the existing balance is Debit Balance of $600.
Bad Debt Expense : $2,010 plus 600 = $2,610.
Answer:
The question is incomplete
Explanation:
Price ceiling is a legal maximum on the price at which a good can be sold whereas a price floor is a legal minimum on the price at which a good can be sold
