Answer:
$100,000
Explanation:
Allowance as at December 31, Year 2 $100,000
This will be recorded as it is expense for the year 2
Bad Debt Expense Dr.$100,000
Account Receivable Cr.$100,000
Answer:
Rightward; demand
Explanation:
Suppose the equilibrium price of bottled water has risen from $1.00 per bottle to $2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a ___Rightward___ shift of the ___demand__ curve for bottled water.
When demand and supply are at balance, it means that equilibrium has been attained.
A shift in the demand means consumers are willing to buy more irrespective of the price.
Equilibrium price and equilibrium quantity is said to increase when there is a rightward shift in demand curve.
In this case, since, the equilibrium price of bottle water increased from $1 to $2 and equilibrium quantity of bottle water increased, therefore it can be said that there's a rightward shift in the demand curve of bottle water. The price change was as a result of change in demand
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