During the year, wendell company had net credit sales of $ 50,000. at the end of the year, before adjusting entries, the balance in accounts receivable was $ 10,500 (debit) and the balance in allowance for bad debts was $ 700 (credit). if the company uses an income statement approach to estimate bad debts at 10%, what is the ending balance in the allowance for bad debts account?

Show the changes to the t-accounts for the federal reserve and for commercial banks when the federal reserve buys $50 million in u.s. treasury bills. if the public holds a fixed amount of currency (so that all loans create an equal amount of deposits in the banking system), the minimum reserve ratio is 10%, and banks hold no excess reserves, by how much will deposits in the commercial banks change? by how much will the money supply change? show the final changes to the t-account for commercial banks when the money supply changes by this amount.

If you miss two payments on a credit card what is generally the penalty

Taking commercial paper means the holder acts honestly