The best answer choice is D.
Answer:
Option A is correct
Explanation:
Customer are defined by the purchase because purchase is the attribute that makes a person or people a customer to a particular product for sale, it can also be refered to as business to customer relationship.
Answer:
The ending balance of Allowance for Bad Debts account is $800
Explanation:
The computation of the ending balance of allowance for bad debt is shown below:
= Credit sales × uncollectible rate
= $40,000 × 2%
= $800
The estimated amount would be considered as an allowance for bad debts i.e $800, So no other amount would be come while computing the ending balance of Allowance for Bad Debts account.
However, the other information which is given in the question is not relevant. Hence, ignored it
Answer:
The balance in the raw materials inventory account on May 30 was $ 7,950.
Explanation:
This question requires us to calculate the balance in the raw materials inventory account on May 30. The detail about inventory purchase during the period, inventory consumed in production and opening inventory balance is given in the problem. We can easily calculate closing balance using following equation.
opening inventory + purchase = closing balance + inventory cosumed
9,250 + 38,750 = closing balance + 40,050
closing balance = $ 7,950
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