Which of the following statements is true regarding the value of national currencies?

Assume the following unadjusted account balances at the end of the accounting period for Chocolate Brownie Palace: Accounts Receivable, $90,000; Allowance for Doubtful Accounts, $1,000 (credit balance); and Sales revenue $600,000.

If Chocolate Brownie Palace ages the accounts and determines that $5,000 of receivables may be uncollectible, the adjusting entry should be: Select one: A. Bad Debts Expense 5,000 Accounts Receivable 5,000 B. Bad Debts Expense 4,000 Allowance for Doubtful Accounts 4,000 C. Bad Debts Expense 5,00 Allowance for Doubtful Accounts 5,000 D. Bad Debts Expense 3,000 Allowance for Doubtful Accounts 3,000

Heather chooses to buy a scarf at Macy's and reads the price on the tag as $50. She uses her credit card to pay for the scarf, but post-purchase, she notices that the price tag actually says $500. This is an instance of a(n) ________

A) bilateral mistake B) mutual mistake of value C) innocent misrepresentation D) unilateral mistake