During the current year, witz electric, inc., recorded credit sales of $740,000. based on prior experience, it estimates a 2 percent bad debt rate on credit sales. required: prepare journal entries for each transaction: (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) a. on september 29 of the current year, an account receivable for $3,300 from march of the current year was determined to be uncollectible and was written off. b. the appropriate bad debt expense adjustment was recorded for the current year. complete the following table, indicating the amount and effect for each transaction. (indicate decreases with a minus sign.)table shows : transactions, net sales, gross profit, income from operations.

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Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

Which feature is a characteristic of a corporation?