Marconi Co. has the following information available for the current year: Net Sales $ 765,000 Bad Debt Expense 45,000 Accounts Receivable, Beginning of Year 135,000 Accounts Receivable, End of Year 70,000 Allowance For Doubtful Accounts, Beginning of Year 57,000 Allowance For Doubtful Accounts, End of Year 77,000 What was the amount of write-offs during the year?

$25,000

Explanation:

When there is a movement in allowance for bad debt account, it is usually as a result of bad debts and bad debts already written off.

The amount of write offs during the year is computed as follows;

Amount write off = Beginning allowance for doubtful accounts + Bad debt expenses - Closing allowance for doubtful accounts

= $57,000 + $45,000 - $77,000

= $25,000

Therefore, the amount of write offs during the year is $25,000

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the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.