Answer:
C. Credit Balance of $ 1,000
Explanation:
Classic Artists' Services at the time of making a contract with maintenance service company will not make any entry in financial statements as there is no services taken at the moment.
At the end of each month starting from February Classic Artists' Services will recognize an maintenance expense and a liability of accrued maintenance of $ 500 ($ 2,000 ÷ 4).
Entry will be:
Dr: Maintenance Expense $ 500
Cr: Accrued Maintenance Payable $ 500.
This entry will continue till May 31.
So the balance on account payable account in March will be $ 1,000 ($500 for Feb + $ 500 for March)
Negative effects of Economic Growth on Society/ The Environment - Noise pollution and lower air quality arising from air pollution and road congestion.
Answer:
The amount of the allowance for doubtful debts is BD11,107.50.
Explanation:
Allowance for doubtful accounts can described as an estimate of the amount of accounts receivable which a business expects that it will not be collectible.
From the question, we have:
Credit sales = BD740,500
Estimated bad debts percentage = 1.5%
Therefore, allowance for doubtful debts can be calculated as follows:
Allowance for doubtful debts = Credit sales * Estimated bad debts percentage ............ (1)
Substituting the values into equation (1), we have:
Allowance for doubtful debts = BD740,500 * 1.5% = BD11,107.50
Therefore, the amount of the allowance for doubtful debts is BD11,107.50.
Based on the principle of trade, correct answer is <u>b. free enterprise economy</u>
<h3>Free enterprise economy</h3>
- The free enterprise economy is an economic system that is based on demand and supply with no government influence or control.
In conclusion,we can conclude that free enterprise economy is the correct answer
Learn more on Free enterprise economy here: brainly.com/question/3369578
B) going public
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