Complete the following table by computing the missing amounts for the following independent cases. Principal Receivable Amount on Note Annual Interest Time Interest Rate Period Earned a. $120,000 10.8% 6 months $6,480 b. $54,000 ? 9 months $3,888 C. ? 10.4% 12 months $4,576
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- A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following: attached in ss below thankas gwroiwrnio1. A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding Accounts Receivable Est. Percent Uncollectiable 1-30 days $62,000 2% 31-60 days $42,000 5% 61-90 days $25,000 11% Over 90 days $7,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible - Account Expense at year-end is: A. $10,730 B. $8,730 C. $9,730 D. $1,240 Please show all steps. ThanksCalculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,025.61 % 1% $ $322.20 $400.00 $
- alculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,023.61 % 1% $ $322.20 $400.00 $1 Required: Complete the following table by computing the missing amounts for the following independent cases. (Do not round intermediate calculations. Round "Annual Interest Rate" to 1 decimal place.) Principal Amount on Notes Annual Interest Time Period Rate Interest Earned Receivable ok a S 65,000 11.4 % 6 months b. $ 43,000 % 9 months $ 3,483 C. 9.3 % 12 months $ 3,069 ncesSolve by using compound table: (Round the "Total Amount" and "Total Interest" to the nearest cent.) # of Periods to Rate of When Principal Time be Total Amount Total Interest Compound Compounded Compounded $ 300 1 year 16 % Quarterly 4
- 2 A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Accounts Est. Percent Days Outstanding 1-30 days Receivable Uncollectible $62,000 2% 31-60 days $40,000 4% 61-90 days Over 90 days $23,000 11% $9,000 50% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible-Account Expense at year-end is: A) $10,870 B) $8,870 C) $1,240 D) $9,870A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year.What is the net realizable value of accounts receivable at the end of year, given the following information:Balance in Accounts Receivable at end of year, $104,000Balance in Allowance for Doubtful Accounts, beginning of year, $2,000 debitWrite-offs during year, $5,000Bad debt expense for year, $9,000Recoveries during year of accounts previously written-off, $2,000
- A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding 1-30 days 31-60 days 61-90 days Over 90 days Accounts Est. Percent Receivable Uncollectible $65,000 3% $43,000 5% $25,000 10% $6,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $700. Under the aging-of-receivables method, the balance in the Allowance for Uncollectible Accounts will be after the adjusting entry is made. OA. $9,020 OB. $1,250 OC. $10,420 OD. $9,720Please HelpRequired: Complete the following table by computing the missing amounts for the following independent cases. (Do not round intermediate calculations. Round "Annual Interest Rate" to 1 decimal place.) a. b. C. Principal Amount on Notes Receivable $ $ 50,000 40,000 Annual Interest Rate 12.0% % 9.0 % Time Period 6 months 9 months 12 months Interest Earned $ $ 3,600 2,700