Bad debt expense info: allowance for doubtful accounts has a credit balance of $1,000. credit sales are $500,000. cash sales are $500,000. percentage of sales method is based on 5% of net credit sales. aging schedule shows that $25,000 is uncollectible. accounts receivable $200,000.journalize adjusting entry--using percentage of sales methood.

Accublade castings inc. casts blades for turbine engines. within the casting department, alloy is first melted in a crucible, then poured into molds to produce the castings. on may 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. the work in process balance for these 230 pounds was $32,844, determined as follows: exercises during may, the casting department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. factory overhead is applied to the department at a rate of 150% of direct labor. the department transferred out 2,530 pounds of finished castings to the machining department. the may 31 inventory in process was 44% complete as to conversion. prepare the following may journal entries for the casting department: the materials charged to production the conversion costs charged to production the completed production transferred to the machining department determine the work in process"casting department may 31 balance.

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?

If a society decides to produce consumer goods from its available resources, it is answering the basic economic question