Morgan company's budgeted income statement reflects the following amounts: sales purchases expenses january $ 112,000 $ 70,000 $ 23,200 february 102,000 58,000 23,400 march 117,000 73,250 26,200 april 122,000 76,500 27,800 sales are collected 50% in the month of sale, 30% in the month following sale, and 19% in the second month following sale. one percent of sales is uncollectible and expensed at the end of the year. morgan pays for all purchases in the month following purchase and takes advantage of a 3% discount. the following balances are as of january 1: cash $ 80,000 accounts receivable* 50,000 accounts payable 64,000 *of this balance, $30,000 will be collected in january and the remaining amount will be collected in february. the monthly expense figures include $4,200 of depreciation. the expenses are paid in the month incurred. morgan’s budgeted cash receipts in february are:

During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.