On june 2, 2018, fred’s tv sales sold mark a large hd tv on account for $12,000. fred’s tv sales uses the accrual method. in 2019, when the balance on the account was $8,000, mark filed for bankruptcy. fred was notified that he could not expect to receive any of the amount owed to him. in 2020 final settlement was made and fred received $1,000. how much bad debt loss can fred deduct in 2020?

$0.

Explanation:

This is business bad debt. Therefore, partial worthlessness can be recognized in 2019. The 2019 loss is $8,000. In 2020, the collection of $1,000 would produce a $1,000 gain ($1,000 - 0) rather than a loss.

0$

Explanation:

On June 2, 2018, Fred’s TV Sales sold Mark a large HD TV on account for $12,000. Fred’s TV Sales uses the accrual method. In 2019, when the balance on the account was $8,000, Mark filed for bankruptcy. Fred was notified that he could not expect to receive any of the amount owed to him. In 2020 final settlement was made and Fred received $1,000. How much bad debt loss can Fred deduct in 2020

Debt is when a business is owing some money

This business has ran into loss. There was a bad debt recorded in 2019 to the tune of $8000. In 2020, there was a gain instead of a loss

Therefore, to get the balance we say gain minus loss

1000-0

which mens

$1000 gain and  no loss in  dollar

the first one $24,630

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.