The great thing about IRAs is that you can withdraw money anytime you want with no financial penalty is a false statement.
<h3>What is IRA?</h3>
An individual retirement account refers to a savings account with tax advantages that individuals can open to save and invest in the long term.
The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty is a false statement.
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Answer:
The description as per the given statement is summarized in the below segment.
Explanation:
- There should priorities immigrants, although it has its inherent consequences since it damages the morality of all other project teams and thereby discourages them.
- This would also dissuade customer prejudice from purchasing the merchandise of the company and then so this might not be beneficial to priorities it.
The Adjustment entry to record the estimated bad debts include debit to Bad Debt Expense of $900 and credit to Allowance for Doubtful Accounts of $900. Thus 2nd and 5th options are correct.
<h3>What is Bad debt?</h3>
Bad Debt refers to the amount of loan which cannot be recovered. It is an outstanding balance which is irrecoverable. Thus in simply words it means the amount which will not be paid by the customer.
According to the given question, The credit balance is $100 in Allowance for Doubtful Accounts.
The credit sales method a specific percentage of credit sales represent bad debts of the previous period. Thus the difference amount comes under Allowance for Doubtful Accounts.
Journal Entry for the estimated bad debts is as follows:
DR. BAD DEBT EXPENSE $900
To CR. ALLOWANCE FOR DOUBTFUL ACCOUNTS $900
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A notary signing agent wants to stand out from other NSA's by guaranteeing to borrowers. This is prohibited if it is stated to be a guarantee.
<h3>Who is borrower?</h3>
A borrower refers to any person or organization taking out loan from a bank under an agreement to pay back it with interest.
As per a notary signing agent wants to stand out from other NSA's by guaranteeing to borrowers and contracting companies that all of her loan signings will take 30 minutes or less. This is prohibited if it is stated to be a guarantee.
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When the fed sells bonds to financial institutions, new money moves directly "out of the loanable funds market".
The Federal Reserve System,sometimes alluded to as the Federal Reserve or essentially "the Fed," is the national or central bank of the United States. It was made by the Congress to give the country a more secure, more adaptable, and more steady fiscal and budgetary framework. The Federal Reserve was made on December 23, 1913, when President Woodrow Wilson marked the Federal Reserve Act into law. Today, the Federal Reserve's obligations fall into four general zones.
