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Trinity trucking signs a contract with olsen oil to purchase all of the fuel for its fleet of trucks for the next year from olsen at a price of $3.00 per gallon. at the time trinity and olsen sign the contract, the market price for gasoline was $3.25 per gallon, and trinity had an expert report predicting that the price would rise to at least $4.25 per gallon in the upcoming six months. instead, the price dropped to $2.00 per gallon. may trinity rescind the contract with olsen due to its mistaken belief about the future of the price of gasoline?

The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?