Answer:
Journal Entries:
Dec 31 Bad Debts Expense $4875
Allowances for doubtful accounts $4875
Feb 1 Allowances for doubtful accounts $580
Accounts Receivable - P.Park $580
June 05 Accounts Receivable - P.Park $580
Allowances for doubtful accounts $580
June 05 Cash $580
Accounts Receivable - P.Park $580
Explanation:
On December 31 Chen estimates the potential receivable expected to be not paying to him. Therefore, he write off the receivable from balance sheet using the percentage of sales method of receivable of ($975000 x 0.5% = $4875). On Feb 1 Chen write off P.Park from receivable of $580 as he comes to know he will not pay but on June 5 P.Park pay him $580. First Chen reinstate the receivable afterwards he collect cash from receivable.
Answer:
The correct answer is the option C: there are many substitute goods available for a product, and they have a long time horizon to adjust their consumption.
Explanation:
To begin with, the concept known as <em>''price-responsive'' </em>in the marketing field and in the business world refers to the ability by the consumers to adjust their consumption behavior regarding the prices that are being charged by the company in order to control the use of the good itself and therefore to avoid paying high prices. Moreover, it is understood that in this theory scheme the consumers are adaptative to the services price changes that the company tends to do.
Answer:
The answer is "debit"
Explanation:
The debit amount should equal the credit amount. This bookkeeping process is called Dual-Input. throughout the mathematical point of view, think of debit as a supplement to the account whereas a credit leaves a checking account so that the cash which is removed and registered on a bank account is a debit.
The answer is 5,000bdbrbgvtvdhdudidjrbrbfbtbfjf
True.
However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
