Answer: $520,000
Explanation:
A bad debt expense occurs when an economic entity which could be an individual or firm cannot collect a receivable because the said customer can't meet their obligations anymore.
The amount of bad debt expense recognized for the year will be the outstanding accounts receivable at year end multiplied by the percentage of uncollectible outstanding receivables. This will be:
= 8% × $6,500,000
= 8/100 × $6,500,000
= 0.08 × $6,500,000
= $520,000
Answer:
In this illustration, a remote distributed organization Cambridge gave elite offering rights to household dealer New York with arrangements that New York can't offer to the outside nation. This then forces a commitment onto New York to offer the books just too household clients. Nothing says that N can't offer the book in mass, yet in the event that New York knew that one of its buyers would exchange those books back to the outside nation New York has the commitment to stop offers of the book to that buyer. Be that as it may this doesn't mean New York is subject for all resale's to the remote nation, for example, residential per users who offer the book online and is bought by outside per user.
Answer:
26.22
Explanation:
Total Payments = $14,200 X 8 Instalments
=$113,600
Interest = Total Payments - Initial Liability
= $113,600 - $90,000 = $23,600
Interest Rate = $,23,600/$90,000X 100
=26.22%
Delinquencies are reported when the loan is 30 or more days past due to the credit bureau. When the borrower is 90 or more days past due is stated to be a serious delinquency.
<u>Explanation:</u>
Delinquency is a situation in which the loan borrower fails to pay the loan or makes an overdue on the periodical payment.
<u>Delinquency rate:</u>
The percentage of loans within the loan portfolio of a financial institution whose payments are delinquent. The formula to calculate the delinquency rate is as follows,
<u>Average days delinquent:</u>
This is calculated by subtracting the days sales outstanding (DSO) from best Possible DSO which is represented as
<u></u>
<u></u>
Very likely if you believe in yourself!
Good luck ;)
