Answer:
This first statement it's to record an estimation of uncollectible accounts
- The journal entry to record bad debt expense requires a debit to bad debt expense and a credit to allowance for doubtful accounts.
Explanation:
When the company determined the percentage of total amount of accounts receivables as uncollectible, the journal entry required is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)
At the moment of the write-off as the expenses were before recognized we only use the Allowance for Uncollectible Accounts (Debit) with Accounts Receivable (Credit), with this we are recognizing the uncollectible credit of the company.
The other way it's to write-off directly the bad debts at the moment decided that the credit are uncollectible, the total amount it's reported as bad debt expenses which affect negativly the income statement and the accounts receivable are reduce in the same amount, less assets.
The answer is B Market Basket.
Answer: Buying $200 stock in AT&T is an example of investment. As in this case the persons income exceeds his consumption and he buys new capital.
Borrowing $1000 from a bank to buy a car to use in business is also an investment as in this case buying a car is like investing in a cash flow producing asset, as the car will be an asset which will help earn money from the pizza business.
Explanation:
Roommate depositing $100 is an example of saving and not investing.
Taking out a mortgage and buying a house is an example of consumption and not investment.
Answer:
Following are the solution to this question:
Explanation:
Please find the complete question and its solution in the attached file.