Answer:
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Explanation:
When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:
A credit to Accounts Receivable (to remove the amount that will not be collected)
A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)
Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Is the 3 % an annual rate or monthly rate? Whats the initial amount deposited?
Then I can better help answer your question.
Answer:
60%
Explanation:
To calculate the percentage assigned to cost of goods sold
, we should use the formula:
= 60%
Therefore, the percentage assigned to Cost of goods sold is 60%
Answer:
C. A situation where no economic agent would benefit by changing his or her behavior
Explanation:
An economic equilibrium is when the agents are optimizing their decisions and opposing market forces are equal. This point allows the economic agents to maximize their utility and any change from this point will cause all agents to move away from potential maximum benefits.
In a natural equilibrium there is usually no government intervention so option A is false. Option B gives only one agent potential benefits and as such there is no equilibrium. Option D is conditional and may or may not happen as when the agents find missing information they would optimize again and move to an equilibrium.
Hope that helps.
Answer:
The answer is "increase; LRAS curve to the right".
Explanation:
The curve LRAS represents the flow between all the level of wages and economic GDP supplied because all prices are fully flexible, also with nominal salaries; its cost may change all along LRAS, however, the output cannot, as it represents the complete output of workers, that's why the several economists say that lower marginal rate consistently increases the motivation to work, shifting the LRAS curve to the left.
