Answer:
$20,200
Explanation:
Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the credit sales only because in cash sales there is no risk of loss.
Estimated Bad Debt = Credit Sales x Rate of bad Debt loss = $740,000 x 3% = $22,200
As Allowance for Doubtful Accounts already have balance of $2,000, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $22,200 at the year end.
Adjustment required = $22,200 - $2,000 = $20,200
The Expense will be $20,200.
Answer:
ranboo he's so unproblematic and he's so funny
Explanation:
<span>Since real GDP goes up by 1% and price level goes up by 3%, nominal GDP must go up by 3%. This is because real GDP is measured based off a base year's prices, but nominal GDP is not encumbered by such a price basis. Since the price level goes up by 3% (and 3/1 is 3), then nominal GDP goes up by 3% as well since the real GDP level only goes up by 1%.</span>
Answer: True
Explanation:
A bond is a debt tool that provides a periodic stream of interest payments to investors while repaying the principal sum on a specified maturity time.
In the U.S., the face value is usually $1,000 or a multiple of $1,000. Hence as the credit value remains constant over the span of the 29 years, the bond keeps decreasing.
The promise made to Belden by Apps Inc. to give stock options is unenforceable.
<h3>Enforceable and Unenforceable Contracts</h3>
For a contract to be enforceable, few conditions are required to be met. They are:
- Written or Oral Agreement
- Proper Details
- Offer and Acceptance
- Consideration
When the above conditions are met then the contract is legally enforceable.
However, if the contract is based on an illusory promise or a promise made on a task that is already performed in the past then this type of contract is not enforceable.
As such in this case, the promise is being made for a job Belden has already designed. Therefore, this promise is unenforceable.
Learn more on contracts here: brainly.com/question/984979