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serg [7]
3 years ago
12

Using the aging method of accounts receivable method, $5,800 of the company’s Accounts Receivable are estimated to be uncollecti

ble. At the end of the year, the balance of Accounts Receivable is $108,000 and the unadjusted credit balance of the Allowance for Doubtful Accounts is $660. Credit sales during the year totaled $166,000. What is the current year’s Bad Debt Expense?
Business
1 answer:
djverab [1.8K]3 years ago
6 0

Answer:

$5,140

Explanation:

Data provided in the question:

Uncollectible Accounts receivable = $5,800

Balance of Accounts Receivable = $108,000

Allowance for Doubtful Accounts = $660

Credit sales during the year = $166,000

Now,

Bad debt expense = Uncollectible Receivables - Allowance of doubtful debts

or

Bad debt expense = $5,800 - $660

or

Bad debt expense = $5,140

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As residual income is referred to income that calculated after deducting all debt and expenses occur on the project. ROI is a way to predict the profit of the project while residual income calculates the net income that the organisation generates from the project.

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3 years ago
You want to provide spending money for your 4 year old during their college years. You can afford to deposit $600/year for the n
umka2103 [35]

Answer:

The Annual investment that you will to make will be $1,069.01

Explanation:

In order to calculate the uniform annual investment that will you have to make on the child's 8th through 17th birthdays to meet this goal, we have to make the following calculations:

First we need to calculate the Amount you have at the end of child's 8th year = 600*(1+0.05)^4 + 600*(1+0.05)^3 + 600*(1+0.05)^2 + 600*(1+0.05)^1 = $2,715.38

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Therefore, to calculate the annual investment we would have to use the following formula:

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The Annual investment that you will to make will be $1,069.01

8 0
3 years ago
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