Answer:
The cash collection on September 9 is records by the entry:
Debit Cash $5,300
Credit Accounts Receivable $5,300
Explanation:
Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:
Debit Allowance for Doubtful Accounts $5,300
Credit Accounts Receivable $5,300
On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:
1. Debit Accounts Receivable $5,300
Credit Allowance for Doubtful Accounts $5,300
2. Debit Cash $5,300
Credit Accounts Receivable $5,300
Answer:
B) Country A uses fewer resources to produce corn than Country B does.
Explanation:
An absolute advantage is a situation where a country or a company can produce some goods and services using fewer inputs compared to competitors. The company can produce more quantity of using the same amount of inputs than others. A country with an absolute advantage will manufacture a product at a lower cost than other countries or companies.
Absolute advantage enables companies and countries to gain from trade. Through specialization, a company will focus on what it can produce at a lower cost than others, and sell it. Country A has an absolute advantage if it can produce corn at a lower cost than country B.
Answer:
Lee's portion of income =$81, 900
Explanation:
<em>The income or loss would be shared according to the ratio of capital contributed. The ratio is the proportion of capital contribute per partner to the total pool of capital.</em>
Lee;s portion of income
= lees capital/total capital × reported income
= 301,500/(201,000+167,500+ 301,500) × 182,000
= $81, 900
Lee's portion of income =$81, 900
<span>Crystal corporation makes $2,000 payments every month for leasing office equipment. Crystal recorded a lease payment as an operating lease.
An operating lease is a lease that is commonly used for a short term basis and asset. The operating lease payment is found on the financial statement.
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