Question

HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if the agency forwarded $2490 to a client?

Answer 1

Answer:

The agency collected $ 622.5.

Explanation:

Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:

2490 x 0.25 = X

622.5 = X

Therefore, the agency collected $ 622.5.