3. when the price of good a rises, people start to drink good b. in this case:
a. good b is considered a luxury good.
b. good b is a complementary good.
c. good b is a substitute good.
d. good b is a normal good.

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)