On March 1, 2015, Dick Miles Purchased a Suit at Kenny's

question 84

Short Answer

On March 1, 2015, Dick Miles purchased a suit at Kenny's Fine Apparel Store. The suit cost $600 and Dick used his Kenny credit card. Kenny charges 2% per month interest if payment on credit charges is not made within 30 days. On April 30, 2015, Dick had not yet made his payment. What entry should Kenny make on April 30th? a.
$\begin{array}{lrr} \text {Uncollectible Account } &600\\ \text { Accounts Receivable } &&600\\\end{array}$

b.
$\begin{array}{lrr} \text { Bad Debt Expense } &588\\ \text { Interest Expense} &12\\ \text {Accounts Receivable } &&600\end{array}$


c.
$\begin{array}{lrr} \text { Accounts Receivable } &612\\ \text { Interest Expense } &&12\\ \text {Sales Revenue } &&600\end{array}$

d.
$\begin{array}{lrr} \text { Accounts Receivable } &12\\ \text { Interest Revenue } &&12\\\end{array}$

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Definitions:

Race and Crime

A field of study that examines the impact of racial and ethnic differences on crime rates, the criminal justice system's response to different races, and the societal perceptions of crime related to race.

Prison Boom

The exponential increase in the prison population, particularly in the United States from the late 20th century, often attributed to policies of mass incarceration and disproportionately affecting minorities.

Crime Rates

Statistical measures of crime in a specified area over a set period, often used to identify trends, allocate resources, and develop policies.

Prison Population

Individuals who are incarcerated in a prison or jail, often discussed in terms of size, demographics, or changes over time.