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Shelia owns a bakery and knows that the demand for its product is elastic. If she desires to increase revenues, she should: Not change her price because revenues could increase or decrease depending on this firm's cost structure Increase price because the higher price will increase revenues with an elastic demand Increase price because the percentage decrease in quantity will be less than the percentage increase in price Either a) or c ) is correct Decrease price because the percentage increase in quantity will be more than the percentage drop in price. A Company uses the Percent of Sales Method to estimate Bad Debt Expense. At period end, credit sales were $800,000, Accounts Receivable were $375,000, and the balance in Allowance for Doubtful Accounts was a $500 Debit. The Company estimates . 06% of credit sales will be uncollectable. What Journal Entry should the Company make at period ond to record estimated Bad Debt Expense? Debit Allowance for Doubtful Accounts $4,800 and Credit Accounts Receivable $4,800. Dobit Bad Debt Expense $2,250 and Credit Allowance for Doubtful Accounts $2,250. Debit Bad Debt Expense $5,300 and Credit Allowance for Doubtful Accounts $5,300. Debit Bad Debt Expense $4,800 and Credit Allowance for Doubtful Accounts $4,800

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