Answer and Explanation:
The Journal entries are shown below:-
1. Salaries expenses Dr, $1,950
To Salary payable $1,950
(Being salaries expense is recorded)
2. Interest expense Dr, $150
To Interest payable $150
(Being interest expense is recorded)
3. Accounts receivable Dr, $1,600
To Service revenue $1,600
(Being sales revenue is recorded)
I think it's called a price ceiling. At least, that's what I think it is.
Answers and explanation:
A) There's an absolute advantage when a nation can manufacture a product at a higher quality and faster pace than another. Comparative advantage is based on the opportunity cost of choosing an alternative option, which is the gain one forfeits. If one nation has a lower opportunity cost to manufacture a good than another it has a comparative advantage.
B) <em>Trade patterns can be easier identified using an absolute advantage</em> since it implies analyzing the worldwide market and determining what products are produced by different countries and at what speed regarding the demand of the product by other nations.
<span>Net Worth is calculated by finding the difference between total assets and total liabilities. In this problem, we are given revolving credit and unpaid bills but that is not necessary to find the total liabilities if we are given both net worth and total assets. Fill in the information we have using the formula below.
Net Worth = Total Assets - Total Liabilities
$20,000 = $150,000 - ? Liabilities
To solve, we can see that $150,000 - $20,000 = $130,000.
So Bryan and Mandy have a combined $130,000 in liabilities.</span>
A network good is a good that people benefit more from as more people use it.
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