The following information is from the 2020 records of r & s commercial plumbing company: accounts receivable, december 31, 2020 : $43,000 (debit) allowance for bad debts, december 31, 2020 prior to adjustment: 1,500 (debit) net credit sales for 2020: 180,000 accounts written off as uncollectible during 2017 16,000 cash sales during 2020 26,000 bad debts expense is estimated by the percent-of-sales method. management estimates that 6% of net credit sales will be uncollectible. calculate the amount of bad debts expense for 2020.a. $10.250 b. $9.000 c. $6.850 d. $7,700

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Oliver is the vice president of production at his company and has been managing the launch of new software systems. he worked with a team of individuals who were tasked to create awareness about a specific product and also to approach potential purchasers of the product. which department managers were part of oliver’s team?