The contract between both of them is rescinded because of mutual mistake. It is because Mark and Dale, the parties of the contract, are both made a mistake about the estimation of the size of the truck. Although Dale and Mark have meeting of minds which is considered the contract to be valid but both they have made mistake, therefore, the contract is voidable.
Answer and Explanation:
The journal entry to record the given transaction as follows:
Uncollectible account expense or bad debt Dr $5,670
To Account receivable $5,670
(being uncollectible account expense is recorded)
Here the expense is debited as it increased the expenses and credited the account receivable as it decreased the asset
Answer:
True
Explanation:
This is an income statement. Ex: Rent expenses, salaries expense, total revenues, etc.
In deciding on a legal form of organization, you should ask yourself how many employees will you hire.
<h3>What is an organization?</h3>
An organization refers to an organized group of people with a particular purpose such as any business or government department.
When deciding on a legal form of organization, you should ask yourself all of the following questions except how many employees will you hire.
Therefore, C is the correct option.
Learn more about the organization here:
brainly.com/question/12825206
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