Answer:
B) The contract rules of the UCC apply, because the predominant purpose of the contract was sale of goods.
Explanation:
The contract doesn´t include in its mayor part provision of services. And Sally wanted to sue Good Carpet for the services that they provided, not for the good it sells.
The amount of the bad debts expense adjusting entry is:$7665.
<h3>Bad debt expenses</h3>
Using this formula
Bad debt expenses=Sales×Estimated sales percentage
Where:
Sales=$1,095,000
Estimated sales percentage=0.7%
Let plug in the formula
Bad debt expenses=$1,095,000×0.7%
Bad debt expenses= $7,665
Therefore the amount of the bad debts expense adjusting entry is:$7665.
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Answer:
C. a derived demand.
Explanation:
Derived demand is a rise in the demand of a product due to the increase in demand for related or intermediate goods. If two distinct goods or services are used together, a rise in the demand of one will cause the demand for the other to rise. Products or services used together are called complementary goods.
Derived demand is primarily as a result of the usage of a product in the production or consumption of other goods or services. In this case, the demand for workers is solely due to a rise in the demand for cars. Should the demand for vehicles decrease, then the demand for workers will fall.
The total cost of the lone will be lower
Answer:
$28,560
Explanation:
Calculation for the carrying value of the note receivable on Park’s December 31, 2019, balance sheet
Using this formula
Carrying value of note receivable =Present value of the note +(Imputed interest rate ×Present value of the note )
Let plug in the formula
Carrying value of note receivable=$25,500+(12%×$25,500)
Carrying value of note receivable=$25,500+$3,060
Carrying value of note receivable=$28,560
Therefore the carrying value of the note receivable on Park’s December 31, 2019, balance sheet will be $28,560