Property taxes in Colorado can be paid in two payments or in one lump sum.

Mark Company uses the allowance method of accounting for uncollectible accounts. On May 3, they wrote off the $3,000 uncollectible account of its customer, P. Basu. On July 10, Mark received a check for $2,000 from Basu. On July 10, Mark Company's books will include the following entry

A) Debit to Accounts Receivable - P.Basu $3,000 B) Credit to Allowance for Doubtful Accounts $2,000 C) Debit to Allowance for Doubtful Accounts $2,000 D) Credit to Accounts Receivable - P.Basu $3,000 E) Credit to Allowance for Doubtful Accounts $3,000

For both profit and nonprofit service firms, the first step toward success in the global marketplace is determining the nature of the company's core products

Indicate whether the statement is true or false a. True b. False