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dimulka [17.4K]
3 years ago
6

Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance

of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?
A) $18,000
B) $54,000
C) $72,000
D) $38,000
Business
1 answer:
PilotLPTM [1.2K]3 years ago
6 0

Answer:

The correct answer is c) $72,000

Explanation:

(Using the percentage of net sales method)

  • Uncollectible accounts expense for the year is estimated to be $54,000

  • If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment.

$54,000 + $18,000= $72,000

The balance after adjustment is $72,000

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3 years ago
what is the money an investor receives above and beyond the money initially invested called?a) saving.b)liquidity.c)return.d)inv
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3 years ago
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A firm has total assets of $2,060,000. it has $847,000 in long-term debt. the stockholders equity is $647,000. what is the debt
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3 years ago
bank pays interest quarterly with an EAR of 9​%. What is the periodic interest rate applicable per quarter​
Vika [28.1K]

Answer:

2.18%

Explanation:

Effective interest rate = (1+i/m)^n - 1

i is stated as interest rate

m is the compounding frequency

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Since one year is equal to 4 quarter, the value of m is equals to 4

Effective interest rate = (1 + i/4)^4 - 1

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i/4 = 2.18%

7 0
3 years ago
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