Answer:
The Journal entries are as follows:
(a) On February 1,
Allowance for doubtful accounts Dr. $8,800
To Account receivable-Oakley Co $1,900
To Account receivable-Brookes Co $6,900
(To record write off)
(b) On June 5,
(i)
Account receivable-Oakley Co. Dr. $1,900
To Allowance for doubtful accounts $1,900
(To record amount reinstated)
(ii)
Cash A/c Dr. $1,900
To Account receivable-Oakley CO $1,900
(To record cash received)
Answer:
<u>(A) When selecting one of two projects, managers should select the project with the higher total expected cash flow.</u>
Explanation:
- When running a business the managers must take into account the type of business entity they are dealing with and also find the projects that deliver maximum returns and give them the maximum benefits.
- The business run by the sole owners must be based on generating a good client base and reducing the cost associated with the company.
- Thus it's essential to select the cash flow with a high amount of growth and lower risks.
Answer:
The Carolina Christmas Tree Corporation’s total revenue is $32,500.
Explanation:
The total supply of Carolina Christmas Tree Corporation (Q) = 500
The selling price of a tree (P) = $65
The total revenue (TR)of Carolina Christmas Tree Corporation = Total supply (Q) * Selling price of a tree (P)
TR = 500 * $65 = $ 32500
Therefore, the answer to the given question is option C = $ 32,500
