The global economy of the 21st century can be summarized as: <span>an economic system that is more favorable for international business. Trade and imports are at an all time high, especially into the United States from places like China, Japan, and Hong Kong.</span>
The allowance for doubtful accounts credited, instead of accounts receivable when recording the adjusting entry for bad debts Because accounts receivable is made up of numerous client accounts, it cannot be credited unless it is known which particular customer will not pay.
The provision for questionable accounts is referred to as a "counter asset" since it reduces the value of an asset, in this example, the accounts receivable. The compensation, often known as a doubtful account, is management's projection of the amount of accounts receivable that customers will not pay. Let's assume, using the aforementioned example, that on June 30 a business reports an accounts receivable debit balance of $1,000,000. The business predicts that $50,000 will not be converted into cash and expects some consumers won't be able to pay the full amount.
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Answer: a decrease in U.S. next exports and increase in U.S. investment
Explanation:
Net export is the measure of a country's total trade. Net exports can be calculated by subtracting the value of all goods and services a county imports from the value of the total goods and services the country exports.
When exports reduce and imports increase, then the net exports (exports ‐ imports) will reduce. Since the U.S. company buys a new industrial sewing machine from a company that is located in France, this means that the U.S net export will decrease.
The sewing machine can be used for the production of cloth. This will lead.to an increase in investment.
Answer:
c. Debit supplies $100 & Credit Account payable $100
Explanation:
Preparation of Journal entry for for a $100 purchase of supplies on credit
Since we were told that the amount of $100 purchased of supplies was made on credit which means that the correct entry will be :
Dr Supplies 100
Cr Account payable 100
