Answer:
Bad debts expenses Debit $ 11,750
Allowance for uncollectible receivables Credit $ 11,750
Explanation:
The allowance for uncollectible accounts receivables balances are calculated as a percentage of the receivable balance.
The receivable balances as at December 31, 2018 is
Services provided on account $ 154,000
Cash collections received <u>$ 107,000</u>
Receivables from services uncollected <u>$ 47,000</u>
Estimated percentage considered uncollectible 25 %
Allowance for uncollectible accounts $ 47,000 * 25 % = $ 11,750
C.I consumer right that protects individuals from extremely high interest rates
Answer:
Total FV= $5,080.86
Explanation:
Giving the following information:
Cash Flow:
Cf1= $865
Cf2= $1,040
Cf3= $1,290
Cf4= $1,385
Discount rate (i)= 8%
<u>To calculate the total future value, we need to apply the following formula to each cash flow:</u>
FV= Cf*(1+i)^n
Cf1= 865*1.08^3= 1,089.65
Cf2= 1,040*1.08^2= 1,213.01
Cf3= 1,290*1.08= 1,393.2
Cf4= 1,385
Total FV= $5,080.86
Answer:
purchase; expansion; expansion
Explanation:
An open market purchase leads to a(n) expansion of reserves and deposits in the banking system and hence to a(n) expansion of the monetary base and the money supply
Open market operations is how central bank purchases or sells government securities in order to expand or contract money in the banking system and influence interest rates.
