Abbott company uses the allowance method of accounting for uncollectible accounts. abbott estimates that 1% of credit sales will be uncollectible. on january 1, the allowance for doubtful accounts had a credit balance of $3,600. during the year, abbott wrote off accounts receivable totaling $2,300 and made credit sales of $102,000. after the adjusting entry, the december 31 balance in bad debt expense will be:
a. $1,200
b. $3,000
c. $3,600
d. $7,200

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

How supply and demand work together to reach the equilibrium price in the marketplace? give at least a paragraph. you!

All of the industries and businesses in the country of marksenia are privately owned and sell products at different prices that are not controlled by the government or any other organizational body. consumers in marksenia are free to buy as much of the products as they like from the businesses they want. the country of marksenia has a