The following amortization and interest schedule is for the issuance of 10-year bonds by Bramble Corporation on January 1, 2020, and the subsequent interest payments and charges. The company’s year end is December 31 and it prepares its financial statements yearly. Amortization Schedule               Amount   Carrying   Year   Cash   Interest   Unamortized   Amount   Jan. 1, 2020           $7,005     $106,995   Dec. 31, 2020   $10,260   $10,700   6,565     107,435     2021   10,260   10,744   6,081     107,919     2022   10,260   10,792   5,549     108,451     2023   10,260   10,845   4,964     109,036     2024   10,260   10,904   4,320     109,680     2025   10,260   10,968   3,612     110,388     2026   10,260   11,039   2,833     111,167     2027   10,260   11,117   1,976     112,024     2028   10,260   11,202   1,034     112,966     2029   10,260   11,294   0     $114,000       Determine the stated interest rate and the effective interest rate. (Round answers to 0 decimal places, e.g. 15%.) Stated Interest Rate    % Effective Interest Rate    % Please show how to find solution in excel

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Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.