Journalize the following transactions using the allowance method of accounting for uncollectible receivables. april 1 sold merchandise on account to jim dobbs, $7,200. the cost of the merchandise is $5,400.june 10 received payment for one-third of the receivable from jim dobbs and wrote off the remainder. oct. 11 reinstated the account of jim dobbs and received cash in full payment.9. journalize the following transactions using the direct write-off method of accounting for uncollectible receivables. april 1 sold merchandise on account to jim dobbs, $7,200. the cost of the merchandise is $5,400.june 10 received payment for one-third of the receivable from jim dobbs and wrote off the remainder. oct. 11 reinstated the account of jim dobbs for and received cash in full payment.10. journalize the following transactions using the direct write-off method of accounting for uncollectible receivables: feb 20 received $1,000 from andrew warren and wrote off the remainder owed of $4,000 as uncollectible. may 10 reinstated the account of andrew warren and received $4,000 cash in full payment.

Afirm produces a product in a competitive industry and has a total cost function (tc) of tc(q) = 60 + 10q + 2q2 and a marginal cost function (mc) of mc(q) = 10 + 4q. at the given market price (p) of $20, the firm is producing 5.00 units of output. is the firm maximizing profit? no what quantity of output should the firm produce in the long run? the firm should produce unit s) of output. (enter your response as an integer.)

Elon musk is the ceo of tesla motors. musk also serves as chairman of tesla's board. according to corporate governance theory, which of the following is a logical reason why musk should serve on the board? 1. he serves on many other boards, including that of a major client of tesla.2. his is an independent director who is well positioned to monitor the company's management.3. he can easily fire board members that are shirking their duties.4. he can provide the board with valuable inside information about the firm and the industry.

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.