Answer:
The journal entries are shown below:
Explanation:
According to the scenario, the journal entries for the given data are as follows:
(1). Jun.30 Bad Debt expense A/c Dr $12,800
To Allowance for Doubtful A/c $12,800
(Being the bad debt expense is recorded)
(2). July Allowance for Doubtful A/c Dr $6,400
To Accounts Receivable A/c $6,400
(Being the customer balance written off is recorded)
Answer:
<u>the World Bank</u>
<u>Explanation:</u>
The <u>World Bank</u> is an international financial institution that monitors the financial activities of most countries. Regional economic data collection is done by means of a World Bank initiative called the International Comparison Program.
An example of this economic data collected is the gross domestic product (GDP) of the regions.
Answer:
the inventory to be purchased next month is $123,000
Explanation:
The computation of the inventory to be purchased next month is shown below:
= Cost of goods sold + closing inventory - opening inventory
= $125,000 + $6,000 - $8,000
= $123,000
hence, the inventory to be purchased next month is $123,000
We simply applied the above formula so that the purchase value of the inventory could come
The rational expectations theory is a concept and theory used in macroeconomic.
what is rational expectations theory?
- The rational expectations theory could be a concept and modeling method that's utilized broadly in macroeconomics.
- The hypothesis sets that people base their choices on three essential variables: their human judiciousness, the data accessible to them, and their past experiences.
- The theory proposes that people’s current expectations of the economy are, themselves, able to impact what long-term state of the economy will gotten to be.
- This statute contrasts with the thought that government arrangement impacts monetary and financial decisions.
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Definition:
Reconciliation is the process of comparing transactions and activity to supporting documentation. Further, reconciliation involves resolving any discrepancies that may have been discovered.
Purpose:
The process of reconciliation ensures the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized changes have not occurred to transactions during processing
