Nature of Uncollectible Accounts The XYZ Corporation owns and operates hotels and casinos including the XYZ Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, XYZ reported accounts receivable of $562,000 and allowance for doubtful accounts of $119,144. Patient Care manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Patient Care reported accounts receivable of $949,000 and allowance for doubtful accounts of $33,215. Round your answers to one decimal place. a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for The XYZ Corporation. % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care. %

Financial And Managerial Accounting
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ISBN:9781337902663
Author:WARREN, Carl S.
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Chapter8: Receivables
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Nature of Uncollectible Accounts
The XYZ Corporation owns and operates hotels and casinos including the XYZ Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, XYZ
reported accounts receivable of $562,000 and allowance for doubtful accounts of $119,144.
Patient Care manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Patient Care reported accounts
receivable of $949,000 and allowance for doubtful accounts of $33,215.
Round your answers to one decimal place.
a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for The XYZ Corporation.
%
b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care.
%
Transcribed Image Text:Nature of Uncollectible Accounts The XYZ Corporation owns and operates hotels and casinos including the XYZ Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, XYZ reported accounts receivable of $562,000 and allowance for doubtful accounts of $119,144. Patient Care manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Patient Care reported accounts receivable of $949,000 and allowance for doubtful accounts of $33,215. Round your answers to one decimal place. a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for The XYZ Corporation. % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care. %
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