The XYZ Corporation owns and operates casinos. For a recent year, The XYZ Corporation reported accounts and notes receivable of $381,000 and allowance for doubtful accounts of $77,724. Patient Care manufactures and sells a wide range of health care products. For a recent year, Patient Care reported notes and accounts receivable of $931,000 and allowance for doubtful accounts of $47,481. Round your percentage answers to one decimal place. a. Compute the percentage of the allowance for doubtful accounts to the accounts and notes receivable for The XYZ Corporation. % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care.
The XYZ Corporation owns and operates casinos. For a recent year, The XYZ Corporation reported accounts and notes receivable of $381,000 and allowance for doubtful accounts of $77,724. Patient Care manufactures and sells a wide range of health care products. For a recent year, Patient Care reported notes and accounts receivable of $931,000 and allowance for doubtful accounts of $47,481. Round your percentage answers to one decimal place. a. Compute the percentage of the allowance for doubtful accounts to the accounts and notes receivable for The XYZ Corporation. % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For A & b percentage
Transcribed Image Text:**Nature of Uncollectible Accounts**
The XYZ Corporation owns and operates casinos. For a recent year, The XYZ Corporation reported accounts and notes receivable of $381,000 and allowance for doubtful accounts of $77,724.
Patient Care manufactures and sells a wide range of health care products. For a recent year, Patient Care reported notes and accounts receivable of $931,000 and allowance for doubtful accounts of $47,481.
Round your percentage answers to one decimal place.
1. Compute the percentage of the allowance for doubtful accounts to the accounts and notes receivable for The XYZ Corporation.
\_\_\_\_\_%
2. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care.
\_\_\_\_\_%
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