Discount Mart Utilizes the Allowance Method of Accounting for Uncollectible

question 47

Essay

Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December 12 the company receives a $550 check from Chad Thomas in settlement of Thomas's $1,100 outstanding accounts receivable. Due to Thomas's failing health he is closing his company and is expecting to make no further payments to Discount Mart. Journalize this declaration.

Understand Marx's and Weber's theories on social class and stratification.

Identify the factors influencing social mobility in the United States.

Explain the functionalist and conflict theories regarding social inequality and stratification.

Analyze the role of education, gender, and occupation in social stratification.

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Definitions:

Maladaptive Ways

Behaviors or mechanisms that are counterproductive to one’s own wellbeing or ability to fulfill goals.

Inflexible

Lacking the ability or willingness to change or adapt to different circumstances, ideas, or behaviors.

Gender Dysphoria

A condition where there is a conflict between a person's physical or assigned gender and the gender with which they identify.

Onset

The beginning or start, especially of something unwelcome like a disease or symptom.