Prior to the Great Recession of 2008/2009, American consumer spending was careful and restrained
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FALSE
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Valley Spa purchased $9400 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 12% promissory note for $9400. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
A. Debit Bad Debt Expense $9588; credit Accounts Receivable $9588. B. Debit Bad Debt Expense $9400; credit Notes Receivable $9400. C. Debit Accounts Receivable-Valley Spa $9588, credit Interest Revenue $188; credit Notes Receivable $9400. D. Debit Accounts Receivable-Valley Spa $9400; credit Notes Receivable $9400. E. Debit Accounts Receivable $9588; debit Bad Debt Expense $188; credit Notes Receivable $9400.
On January 1, Year 2, the Accounts Receivable balance was $24,200 and the balance in the Allowance for Doubtful Accounts was $2500. On January 15, Year 2, an $710 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is:
A. $23,490. B. $20,990. C. $22,410. D. $21,700.
Most experienced business writers know that it's more efficient to write one well written draft than multiple drafts
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Order taker and customer service representative are among the key sales roles
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