The amount of output that a firm decides to sell has no effect on the market price in a competitive industry because a. the short-run market price is determined solely by the firm's technology. b. the demand curve for the industry's output is downward sloping. c. the firm's output is a small fraction of the entire industry's output. d. the market price is determined (through regulation) by the government. e. the firm supplies a different good than its rivals.

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)