Increasing product supply leads to an outward shift the supply curve. TRUE OR FALSE?

The balance in accounts receivable at the beginning of 2016 was $600. During 2016, $3,200 of credit sales were recorded. If the

andreyandreev [35.5K]

Answer:

$3,100

Explanation:

Step 1: Draw up the Accounts Receivable Account

Opening Balance $600 Allowance for Doubtful debt $200

Sales $3,200 Cash Collected $3,100

Closing Balance $500

$3,800 $3,800

To calculate the cash collected from customers

first, add the debit side of the accounts receivable which is a sum of the opening balance and sales= 3,800

Secondly, add the figures in the credit side including allowance for doubtful debt and closing balance= $700

Thirdly, Subtract the lesser side from the greater, $3,800 - $700 = $3,100

$3,100 was cash collected from the customers in 2016

8 0

3 years ago

Would you rather be a juvenile prosecutor or defense attorney? Explain your decision.

balandron [24]

Answer:

a defense attorney instead

Explanation:

From a financial standpoint, a defense attorney would more likely make more money than a juvenile prosecutor because a defense attorney could charge up more for certain cases than been a juvenile prosecutor who wants to ensure someone is convicted.

Also, in terms of purpose, I do feel a defense lawyer could make more impact socially by defending his or her clients.

6 0

3 years ago

Select the word that best fits the definition: The way goods and services are produced, distributed, and consumed in a society.

Bumek [7]

Answer:

economy

Explanation:

The way goods and services are produced, distributed, and consumed in a society can be referred to as Economy.

I hope this helps...

4 0

3 years ago

Read 2 more answers

Myrtle Beach Pro-Shop receives information that requires the company to increase its expectations of uncollectible accounts rece

Lera25 [3.4K]

Answer:

b. Accounts receivables (gross) is reduced

Explanation:

As we know that

The journal entry to record the bad debt expense is

Bad debt expense A/c Dr

To Allowance for doubtful debts

(Being allowance of uncollectible accounts are recorded)

By passing this journal entry, both bad debt expense and the allowance for doubtful debts which result in a decrease in the net income and the balance of account receivable but the gross of account receivable would remain the same.

3 0

3 years ago

The current exchange rate between the U.S. dollar and the Japanese yen is 120120 (yen/$). That is, 1 dollar can buy 120120 yen

Drupady [299]

Answer:

$ 8.33

Explanation:

Rate of dollars to yen

120 yen is to 1 dollars

1000 yen will be to 1000 yen × 1 dollars / 120 = $ 8.33

7 0

3 years ago