To record the write-off of receivables:
Allowance for doubtful accounts ----------------------------$24,000
Accounts Receivable -----------------------------------------------$24,000
To record the accounts receivable collected from the written-off receivable, first restore the accounts receivable with the following entry:
Accounts Receivable ------------------------------------------$1,900
Allowance for doubtful accounts ------------------------------$1,900
To record the collection of accounts receivable:
Cash -----------------------------------------------------------------$1,900
Accounts Receivable ----------------------------------------------$1,900
Or, the direct journal entry to record the collection of previously written-off accounts receivable is:
Cash ---------------------------------------------------------------$1,900
Allowance for doubtful accounts ------------------------------$1,900
Answer:
Explanation:
i think the answer is third party creditors
Answer:
North Korea - Command Economy.
Explanation:
In Command Economy, the government control all means of production. The citizens have no power to actually make efforts to own these resources.
To proof it, we can refer to the economic freedom ranking that was created by Heritage Foundation. From all 180 countries included in the ranking, north Korea placed at the very bottom.
The Government of North Korea have total control of the economy. They determine what products should be made, what type of jobs the citizens can held, and how those resources should be distributed among the people.
<span>I believe it would because that would mean it’s only $12 a person and if the event is buffet style or open bar people will most likely eat more than $12 worth of food.</span>
Answer:
True
Explanation:
Using your resources wisely means using the smallest amount of resources to produce the greatest amount of output. In terms of the economic efficiency , when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized. Economic efficiency is when every scarce resource in an economy is used and distributed among producers and consumers in a way that produces the most economic output and benefit to consumers. Economic efficiency can involve efficient production decisions within firms and industries, efficient consumption decisions by individual consumers, and efficient distribution of consumer and producer goods across individual consumers and firms. Effective management is described a use staff, time and resources wisely to minimize unnecessary cost to the organization.
