Because they’re fast and efficient
Answer:
Explanation:
The computation of the bad debt expense is shown below:
= (Credit sales × estimated percentage given ) - (credit balance of Allowance for Uncollectible Accounts)
= ($985,750 × 2%) - ($18,000)
= $19,715 - $18,000
= $1,715
= (Credit sales × estimated percentage given ) + (debit balance of Allowance for Uncollectible Accounts)
= ($985,750 × 2%) - ($18,000)
= $19,715 + $18,000
= $37,715
Since in the question it does not specify that Uncollectible Accounts has debit or credit balance so we computed in the both methods
<span>What is the periodic interest rate of Melanie's investment?
How many compounding periods does Melanie's investment offer in a year? How about in 8 year?
Semiannually means that it is twice in a year, then:
- the number of compounding periods in a year is 2.
- the number of compounding periods in 8 years is 2 * 8 = 16
What expression can Melanie write to figure out how much her investment will be worth in 8 years?
Use the formula : F = P * ( 1+ r/n) ^ (n*t)
P is the initial investment = $12,000
n = the number of periods per year, which is 2
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<span><span>r is the yearly rate = 4.8% = 0.048
t is the number of years, which is 8.
Then, the equation is F = $12,000 * ( 1 + 0.048/2) ^ (8*2) =
= $12,000 ( 1+ 0.024)^ 16 = $12,000 (1,024)^16
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How much will Melanie's investment be worth in 8 years?</span>
Just use the calculator: 12,000 (1,024)^16 = $17,538