Aguilar Company receives a $2,000 cash payment from a customer whose accounts receivable was previously written off.

In recording this transaction, which of the following are true? Check all that are true.

Allowance for doubtful accounts is credited/increased for $2,000
Accounts receivable is debited/increased for $2,000
Cash is debited/increased for $2,000
Allowance for doubtful accounts is debited/decreased for $2,000
Bad debt expense is credited/decreased for $2,000
Bad debt expense is debited/increased for $2,000
Cash is credited/decreased for $2,000
Accounts receivable is credited/decreased for $2,000

Aconsumer values a house at $525,000 and a producer values the same house at $485,000. if the transaction is completed at $510,000, what level of tax rate will result in unconsummated transaction?

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.