Answer:
A. business plan.
Explanation:
A business plan is a detailed written document you do to plan how you're going to make your business work, it includes components like marketing, operational and even financial viewpoint you'll need to cover in order to achieve a goal.
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debit to Bad Debt Expense for $3,800
<h3>What is
Bad Debt Expense ?</h3>
When a receivable is no longer collectible because a customer is unable to fulfil their obligation to pay an outstanding debt due to bankruptcy or other financial problems, a bad debt expense is recognised.
If a company with $2,000,000 in sales expects 2% of sales to be uncollectible, their bad debt expense would be $40,000 ($2,000,000 * 0.02). Consider a roofing company that agrees to replace a customer's roof on credit for $10,000.
Are bad debts a cost or a liability? Bad debts are an expense to the business rather than a liability because the amount expected to be received from the debtor is irrecoverable and has a negative impact on the books of accounts by reducing accounts receivable.
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Answer:
Country B has a comparative advantage producing coal.
Explanation:
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<u>Answer:</u> 41 days
<u>Explanation:</u>
Given
Net credit sales 720000
Accounts receivable opening balance 70000
Accounts receivable closing balance 90000
Average accounts receivable = (opening balance + closing balance) / 2
=(70000+90000)
=160000/2
=80000
Accounts receivable turnover ratio = net sales/ average accounts receivable
=720000/80000
=9 times
Average collection period for accounts receivables
= 365/ accounts receivable turnover ratio
=365/9
=40.5
Average collection period for accounts receivables is 41 days