I think the answer is D.52
The answer is going to be B. The social benefit is less than the private
Answer:
$13,000
Explanation:
Sales tax is calculated by multiplying sales by applicable tax rate. In this case sales is $262500 and tax rate is 5%. Hence $262500 x 5% = $13,000.
Answer:
$2,609.45
Explanation:
For this question we have to find out the future value which is shown below:
Data provided in the question
Present value = $1,000
Rate of interest = 2%
NPER = 12 months
PMT = $150
The formula is shown below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the balance at the end of the one year is $2,609.45
Allowance for doubtful accounts
39,375−3,285=36,090
The journal entry
Debit: Bad Debt Expense
36,090
Credit: Allowance for Doubtful Accounts
36,090