What are the laws of supply and demand?
The law of demand states that as prices increase, quantity demanded will decrease (there is an inverse relationship). The law of supply states that as prices increase, quantity supplied will also increase (selling more at a higher price leads to higher profits).
Solve for x: 4(x-3)-10=2(x-2)
x=9
What is Bad Debt Expense?
Bad Debt Expense is the amount of a receivable that a company does not believe they will be able to collect. An entry involving Bad Debt Expense could look like an debit to Bad Debt Expense (Equity) and a credit to Accounts Receivable.