Reliable enterprises sells distressed merchandise on extended credit terms. collections on these sales are not reasonably assured, and bad debt losses cannot be reasonably predicted. it is unlikely that repossessed merchandise is in condition to be re-sold. therefore, reliable uses the cost recovery method. merchandise costing $32,500 was sold for $56,750 in 2017. collections on this sale were $19,100 in 2017, $14,900 in 2018, and $22,750 in 2019. in its 2017 year-end balance sheet, reliable would report installment receivables (net) of:

In its 2017 year-end balance sheet, Reliable would report installment receivables (net) of $13,400.

Explanation:

Under cost recovery method, the amount which is actually received was recorded in the books of the accounts. Rest will not be considered.

The Installment receivables should be computed by a formula which is shown below:

= 2017 Merchandising costing - 2017 sales collection

= $32,500 - $19,100

= $13,400

Thus, In its 2017 year-end balance sheet, Reliable would report installment receivables (net) of $13,400.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answersecondary succession;