I can fill a room. Give me oxygen and i live, give me water and I die. What am I?
EASY ANSWER: FIRE
Answer:
A. Wholesaling
Explanation:
Wholesaling can be defined as when a producer/seller sells goods in large quantities at low prices to be sold again by the buyer for profit. It is the sale of goods to a retailer in bulk at lower prices. The retailer then repackage it (amongst other activities) and resell it in smaller quantities and higher prices.
When the Dailes restaurant sells to other restaurants it's wholesale because those restaurants then resells it. When the sell to their customers, it is retail.
<span>When
establishing prices, it's important for a manager to understand that "good
value" is not the same as low price.
Customer value-based pricing it percept the buyers of what a product is
worth as the key to pricing.</span><span> Firms use captive-product pricing
make up for the cheap prices of their main products. </span>
Answer:
Journal Entry
Dr. Bad Debt Expense $16,835
Cr. Allowance for Doubtful Accounts $16,835
Explanation:
Allowance for Doubtful Accounts is normally has credit balance because it is a contra asset account which is adjusted against the Account Receivable. As per given data the Allowance for Doubtful Accounts has debit balance. At the end of the year this account should show the credit balance by 3.5% of Closing receivables. So, we need to adjust this debit balance and the 3.5% Allowance for the year as well.
Allowance for the year = Accounts receivable balance x 3.5% = $ 443,000 x 3.5% = $15,505
Expense for the year = $15,505 + 1,330 = $16,835