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Question - At the end of 2017, Ayayai Corp. has accounts receivable of $1.4 million and an allowance for doubtful accounts of $87,000. On January 16, 2018, Ayayai determined that its $10,000 receivable from Blossom Company will not be collected, and management has authorized its write off. On January 31, 2018, Ayayai received notification that the company will be receiving $0.10 for every $1.00 of accounts receivable relating to Sunland Company The company had previously written off 100% of the amount due from Sunland ($66,000).
Prepare the journal entry for Ayayai Corp. to write off the Blossom receivable and any journal entry necessary to reflect the notice regarding Sunland Company.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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