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
Answer:
22.85
Explanation:
Present value (PV): $500,000
Rate: 6.5% per annual
Payment (PMT) : $40,000 per year
We can use excel to calculate the maximum number of whole payments that can be withdrawn before the account is exhausted
=NPER(rate, PMT, -PV,,1) = NPER (6.5%,40000,-500000,,1) = 22.85
Answer:
If the movie 'Finding Nemo' were scientifically accurate, Nemo's dad would have become female after Nemo's mom died. Then he would have mated with his son.
Explanation:
Answer:
Shally will not having any amount of bad debt deduction for the present year.
Explanation:
In the present year, Shally will not having any amount of bad debt deduction because she has a gain or income of $5,000. As, last year she has account receivable of $60,000 but this year she settled the account by receiving the $65,000 amount. So, she has received more amount than the basis in the receivable. Therefore, she will not have any bad debt deduction this year.
