At year-end Chan Company estimates its bad debts as 1.5% of its annual credit sales of $975,000. If the current balance of the allowance account (prior to year-end) is a credit of $1,000, calculate the amount of the adjusting entry to reflect the desired year-end balance.

David consumes two things: gasoline (q 1) and bread (q 2). david's utility function is u(q 1, q 2)equals70q 1 superscript 0.5 baseline q 2 superscript 0.5. let the price of gasoline be p 1, the price of bread be p 2, and income be y. derive david's demand curve for gasoline. david's demand for gasoline is q 1equals nothing. (properly format your expression using the tools in the palette. hover over tools to see keyboard shortcuts. e.g., a subscript can be created with the _ character.)