On june 1, 2018, top performance cell phones sold $ 26 comma 000 of merchandise to alright trucking company on account. alright fell on hard times and on july 15 paid only $ 7 comma 500 of the account receivable. after repeated attempts to collect, top performance finally wrote off its accounts receivable from alright on september 5. six months later, march 5, 2019, top performance received alright's check for $ 18 comma 500 with a note apologizing for the late payment.

requirements

1. journalize the transactions for high performance cell phoneshigh performance cell phones using the direct write-off method. ignore cost of goods sold.

2. what are some limitations that high performance will encounter when using the direct write-off method?

Exercise 18-15 sheffield appliance center is an experienced home appliance dealer. sheffield appliance center also offers a number of services for the home appliances that it sells. assume that sheffield appliance center sells ovens on a standalone basis. sheffield appliance center also sells installation services and maintenance services for ovens. however, sheffield appliance center does not offer installation or maintenance services to customers who buy ovens from other vendors. pricing for ovens is as follows. oven only $790 oven with installation service 850 oven with maintenance services 970 oven with installation and maintenance services 990 in each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $180. additionally, the incremental amount charged by sheffield appliance center for installation approximates the amount charged by independent third parties. ovens are sold subject to a general right of return. if a customer purchases an oven with installation and/or maintenance services, in the event sheffield appliance center does not complete the service satisfactorily, the customer is only entitled to a refund of the portion of the fee that exceeds $790. assume that a customer purchases an oven with both installation and maintenance services for $990. (b) indicate the amount of revenue that should be allocated to the oven, the installation, and to the maintenance contract.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

Explain the relationship between consumers and producers in economic growth and activity