Answer:
The Journal entries are as follows:
(i) On March 11,
Bad debt expense A/c Dr. $45,000
To accounts receivable $45,000
(To record uncollectible accounts receivable)
(ii) On March 29,
Accounts receivable A/c Dr. $45,000
To Bad debt expense A/c $45,000
(To record reversal of written off accounts receivable)
(iii) On March 29,
Cash A/c Dr. $45,000
To accounts receivable $45,000
(To record receipt of cash from customer)
It is electronic conferencing
Answer:
C) supply is more elastic at low levels of output and less elastic at high levels of output.
Explanation:
Price elasticity of supply shows how firms react to a change in the price of a product. If the price elasticity of supply is high, the firms will be willing to increase production in a proportionally higher quantity than the increase in price. As the supply elasticity reduces, firms will be less willing to increase production when the price increases.
In this case, if the supply elasticity was high when the level of output was low, then the firm was willing to increase output more than the price increase. But as the supply elasticity decreased, since total output had already increased, the firm is less willing to increase production when the price changes.
Answer:
Remittance advice
Explanation:
The portion of an invoice that is returned with payment is called remittance advice. It is a letter sent by a client to a provider to inform that their receipt has been paid. When a customer pays the amount by check, usually the remittance advice accompanies the check. The remittance advice includes critical information, such as names, payment amount data and invoice number.