Luther inc., has 2,000 shares of 6%, $50 par value, cumulative preferred stock and100,000 shares of $1 par value common stock outstanding at december 31, 2010, anddecember 31, 2009. the board of directors declared and paid a $5,000 dividend in 2009.in 2010, $24,000 of dividends are declared and paid. what are the dividends received bythe preferred stockholders in 2010? a. $17,000b. $12,000c. $7,000d. $6,000

For 2018, rahal's auto parts estimates bad debt expense at 1% of credit sales. the company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at december 31, 2017. during 2018, rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off. rahal's accounts receivable at december 31, 2018, are:

Adepression can occur in the expansion phase of a business cycle. true or false

If modern company received $3,650 from connor young company on march 12 for the total amount of an account that had been written off on march 1, the entry to reinstate the account under the direct write-off method would include