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IgorC [24]
3 years ago
9

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment of $500. The bad debts are estima

ted at 7% of $60,000, the outstanding accounts receivable. After the appropriate adjusting entry to recognize the bad debt expense, what will be the balance of the Allowance for Doubtful Accounts?
Business
1 answer:
Elan Coil [88]3 years ago
6 0

Answer:

Estimated balance of Doubtful Account after adjusting entry = $4,200

Explanation:

Given:

The credit balance of Doubtful Account = $500

Computation of estimated balance of Doubtful Account after adjusting entry:

Estimated balance of Doubtful Account after adjusting entry = 7% of $60,000

Estimated balance of Doubtful Account after adjusting entry = $4,200

After adjusting entry , Total amount credited in Allowance for Doubtful Accounts is $4,200

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A reason for government involvement in a market economy is:
larisa [96]

Answer:

d. All of these answers are correct.

Explanation:

A market economy is where production decisions are made by the forces of demand and supply. Means of production are privately owned .

The government intervenes in a market economy for all the above stated reasons.

I hope my answer helps you.

5 0
3 years ago
Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining
Nata [24]

Answer:

The statement is true

Explanation:

Marketing strategy is the strategy which is defined as all of the marketing objective as well as goals of the company combined into a one or a single comprehensive plan. It is the one which develop and create marketing mix.

It is designed in order to develop or promote the good and service so that the business could earn or make profit.

So, the statement is true as it is stating that the strategies involve selecting activities and define 1 or more target markets. Also maintain and develop the marketing mix.

4 0
3 years ago
Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol
dybincka [34]

Answer:

125%

Explanation:

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Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

7 0
3 years ago
Ivory purchased a car for $24,000. The annual interest rate on the loan is 3.5%. She will make payments for 6 years. What is Ivo
Kitty [74]
11.68 $ a month, i believe thats the answer, if not its pretty close...

3 0
3 years ago
______________ and _________________ wanted germany to pay for the entire financial cost of the war.
Nataly_w [17]
<span>France and Belgium wanted Germany to pay for the entire financial cost of the war
</span><span>The "War guilt clause" </span>placed sole responsibility for the war on Germany and said that they must pay back the allies for the war expenses. It <span>was a statement that Germany was responsible for beginning World War I.</span>
7 0
3 years ago
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