A person has a poor credit score due mainly to the amount of debt on credit cards and installment loans. How could the person improve his score?

Q: What is the  range of possible credit scores. Give examples of bad, average, excellent credit…

A: Credit reporting agencies determine the score(i.e credit score) of the individual. This score is…

Q: The cost of marginal bad debts is found by taking the difference between the levels of bad debts…

A: Bad debt refers to the loans or amount that can no longer be recovered as the person has lost all…

Q: When you borrow money from someone it is because you do not have enough to pay for something…

A: Time value of money refers to the concept that states that the money we have today is having more…

Q: How can I manage keep my credit score high?

A: Credit Score: A credit score may be a range between 300–850 that depicts a consumer's…

Q: If you were a wise credit card user, under which of the following conditions would you consider…

A: Here the situation is person using the credit card and want to consider using the credit card to…

Q: What are the different ways to estimate bad debt? How does this affect net income? What does…

A: The company makes sales on cash and sales on account as well. The company generally makes sales on…

Q: Suppose a bank offered to make loans to potential borrowers without checking their credit history.…

A: The banks generate their income mainly from the difference between the lending rate and the rate…

Q: Building a good credit rating is integral to which of the following? Ability to have access to…

A: Meaning: Credit rating is the measurement of the past performance of a company related to loans and…

Q: How has the credit crisis May have adversely affected many homeowners and mortgage companies?

A: Homeowners insurance policies are defined as the type of an insurance policies, which usually covers…

Q: You will discuss credit from the lenders point of view. What factors do lenders consider when making…

A: A credit score is a numerical representation of a person's creditworthiness and indicates how well…

Q: Which of the following situations are likely to result in higher loan defaults?     Mortgages…

A: Loan default implies that borrower is not able to repay debt according to initial predetermined…

Q: Why are credits and debits different for banks compared for personal finance usage?

A: In personal account, all expenses, assets, and losses will be debited. All incomes, liabilities, and…

Q: What is

A: It is uncollectible from the debtors due to bankruptcy, financial problems, or collections by the…

Q: how exactly did you get the bad debt expense?

A: Allowance method is the GAAP approved method of providing for valuation of accounts receivable. In…

Q: In other​ words, if you borrow​ $100, you must pay back​ $117.55 two weeks later. If you​ can’t pay…

A: Payday loans are a type of short-term loan that typically need to be repaid on the borrower's next…

Q: How is your borrowing power affected when you are considered a "high risk"? O There is a good chance…

A: A credit score evaluates a person's creditworthiness, or ability to repay debt. It is commonly…

Q: If a credit is money coming to you, why is it called a credit card when money is removed from your…

A: Under the financial accounting, each account with some balance will either have debit balance or…

Q: nt stud

A: Introduction : In simple words, student loans refers to the amount borrowed by individuals to…

Q: Explain the 5 C’s that creditors look for in borrowers. Which ones are the most important?  Which…

A: A borrower is an individual or an institution that borrows money or loan from the lender for a…

Q: We are currently working on Bad Debt expense and Receivables.  Please see attachement.

A: Revised Journal Entry: