The answer is true.
In business, you have to prioritize what is the most important task to
do for the day as this might affect your business. You have to choose which is the most to the
least important things to do. The most
important things come first especially if it has a big impact on your career.
Answer:
a. debit to bad Debt expense for $3,300
Explanation:
The Journal entry is shown below:-
Bad debt expenses Dr, $3,300
To Allowance for doubtful accounts $3,300
(Being bad debts expenses is recorded)
Therefore to record the bad debt for the period we simply debited the bad debt expenses as it increase the expenses and on the other hand we credited the allowance for doubtful accounts as decrease the assets.
So, the right answer is a. debit to bad Debt expense for $3,300 option.
Working Note:-
Bad debt expenses = Estimated uncollectible - Credit balance
= $4,500 - $1,200
= $3,300
Answer:
25 Days
Explanation:
Average Account receivables:
= (Accounts receivables, beginning of year + Account receivables, end of year) ÷ 2
= (45,000 + 35,000) ÷ 2
= 40,000
Account Receivables Turnover = Net Sales on Account ÷ Average Account Receivables
Account Receivables Turnover = 584,000 ÷ 40,000
= 14.6 times
No. of Days Sales in Accounts Receivables:
= No. of Days in a year ÷ Account Receivables Turnover
= 365 ÷ 14.6
= 25 Days
Answer:
by committee
Explanation:
this is because it would be easier to do it with a committee than being alone.
Answer:
The correct answer is:
demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good. (d)
Explanation:
Let me first try to define what demand and want are:
want: want is a desire for a product or service. It is said that wants are unlimited, however, the resources to actualize such wants are in a limited supply.
Demand: Demand is the quantity of good or service that a person is willing and able to pay for because of the availability of resources to do so, at a given price and time.
For a clearer understanding, demand can be seen as a subset of want that a consumer takes a further step to acquire, not just desire. There is a specific plan to acquire such wants.
