A. Adjusting entry amount = (sales)*(25%)
= ($51,850,000)(25%)
= $129,625
B. Bad debt expense = $129,625
Accounts receivable = $2,150,000
Allowance for doubtful accounts = $129625 - $10,500 = $119,125
C. Net realizable value = $2150000 - $119125 = $2030875
What is compound interest?
Compounding is the process through which earnings from an asset, such as interest or capital gains, are reinvested to produce more earnings over time. The investment will produce earnings from both its initial principal and the accumulated earnings from prior periods, which are calculated using exponential functions.
Since only the principal earns interest each cycle in linear growth, compounding varies from that method.
Compounding is the method through which interest is added to both the principle balance already in place and the interest that has already been paid.
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