Me! what is meant by the phrase "charging whatever the market will bear"? a. you should keep raising prices until business drops off. b. you have to undercut your competition. c. customers believe that higher prices mean better quality. d. your price can't be more than customers are willing to pay.

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.)