Merchandise with a sales price of $3,500 is sold on account with terms 2/10, n/60. The journal entry to record the sale would include a Group of answer choices debit to Cash for $3,500 debit to Merchandise Inventory for $70 debit to Accounts Receivable for $3,500 credit to Sales for $3,430

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,200 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,200 from hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:

5. profit maximization and shutting down in the short run suppose that the market for polos is a competitive market. the following graph shows the daily cost curves of a firm operating in this market. 0 2 4 6 8 10 12 14 16 18 20 50 45 40 35 30 25 20 15 10 5 0 price (dollars per polo) quantity (thousands of polos) mc atc avc for each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. assume that if the firm is indifferent between producing and shutting down, it will produce. (hint: you can select the purple points [diamond symbols] on the previous graph to see precise information on average variable cost.) price quantity total revenue fixed cost variable cost profit (dollars per polo) (polos) (dollars) (dollars) (dollars) (dollars) 12.50 135,000 27.50 135,000 45.00 135,000 if the firm shuts down, it must incur its fixed costs (fc) in the short run. in this case, the firm's fixed cost is $135,000 per day. in other words, if it shuts down, the firm would suffer losses of $135,000 per day until its fixed costs end (such as the expiration of a building lease). this firm's shutdown price—that is, the price below which it is optimal for the firm to shut down—is per polo.

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies