debit to Bad Debt Expense for $3,800
<h3>What is
Bad Debt Expense ?</h3>
When a receivable is no longer collectible because a customer is unable to fulfil their obligation to pay an outstanding debt due to bankruptcy or other financial problems, a bad debt expense is recognised.
If a company with $2,000,000 in sales expects 2% of sales to be uncollectible, their bad debt expense would be $40,000 ($2,000,000 * 0.02). Consider a roofing company that agrees to replace a customer's roof on credit for $10,000.
Are bad debts a cost or a liability? Bad debts are an expense to the business rather than a liability because the amount expected to be received from the debtor is irrecoverable and has a negative impact on the books of accounts by reducing accounts receivable.
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Answer:
iii. The law of diminishing marginal utility
Leaders must be consistent in their words.
- There are many advantages to being an ethical leader. Leaders can influence their community to act morally by working together. Others will be inspired to emulate your moral behavior if you set an example for them and offer guidance. Moral leaders can influence a large number of people for the better by presenting them with a course of action that will benefit everyone.
- For personal credibility and reputation, it is essential to be an ethical leader. Being a leader takes time and effort. Being unethical can seriously damage a leader's or their organization's reputation and immediately remove them from the A-league.
- A person's self-esteem is frequently harmed by unethical behavior, which leads to a less than ideal outcome and a missed opportunity to reach one's full potential.
Thus a Leader must be consistent in their words.
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There are different type of economies, Mixed economies exist when the distribution of resources involves elements from more than one economic system.
<h3>What is mixed economies? </h3>
Mixed economy is a type of market system where resource are allocated and trade in market where free markets coexist with government intervention.
private companies and government owned both exist and share resources together.
Therefore, Mixed economies exist when the distribution of resources involves elements from more than one economic system.
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