Answer:
Cash was collected from customers during the year was $ 104,100
Explanation:
Sales revenue = $120,000
Bad debt expense = 2.5% of sales
Therefore, Bad debt expense = $120,000 x 2.5% = $3,000
Thus, allowance for uncollectible accounts should have increased by $3,000. But it increased by $2,100.
Therefore, uncollectible accounts receivable of $900 ($3,000 - $2,100) were written off during that year.
Cash collected from customers = Sales revenue - Increase in accounts receivable - Uncollectible accounts written off
= $120,000 - $15,000 - $900
= $104,100
Answer:
True
Explanation:
If a natural disaster occurs, house insurance can prevent you from further financial loss, as some compensation would be given.
Answer: Vroom and Yetton's normative decision model.
Explanation:
The Vroom–Yetton normative decision model is a situational leadership theory of industrial and organizational psychology that was developed by Victor Vroom, in collaboration with Phillip Yetton and later with Arthur Jago. The situational theory argues the best style of leadership is contingent to the situation.
Regarding decision making, the Vroom-Yetton model suggests that being autocratic, seeking advice, considering alternative approaches before a decision is made, informing a group on an issue, and letting that group develop the solution without forcing your own ideas are all important at times.
<span>a merchandise purchases budget replaces the production budget.
the manufacturing budgets are not applicable.</span>
A borrowed reserves target is <u>procyclical</u> because increases in income <u>increase</u> interest rates and discount loans, causing the fed to <u>increase</u> the monetary base, and everything else held constant.
<h3>
What are interest rates?</h3>
- The amount a lender charges a borrower is called an interest rate, and it is expressed as a percentage of the principal, or the loaned amount.
- Typically, a loan's interest rate is expressed as an annual percentage rate, or APR (APR).
- A savings account or certificate of deposit earnings at a bank or credit union may also be subject to an interest rate (CD).
- The interest received on these deposit accounts is measured in annual percentage yields (APY). Simple interest is used in most mortgages.
- Compound interest, which is applied to both the principle and the accrued interest from earlier periods, is used in some loans, nevertheless.
- The interest rate will be lower for a borrower who the lender deems to be low risk.
To learn more about interest rates with the given link
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