During the year ended december 31, 2015, kelly's camera shop had sales revenue of $145,000, of which $72,500 was on credit. at the start of 2015, accounts receivable showed a $10,000 debit balance and the allowance for doubtful accounts showed a $550 credit balance. collections of accounts receivable during 2015 amounted to $63,000.data during 2015 follow: a. on december 10, a customer balance of $1,250 from a prior year was determined to be uncollectible, so it was written off. b. on december 31, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2 percent of credit sales for the yearrequired: 1. show how the amounts related to accounts receivable and bad debt expense would be reported on the balance sheet and income statement for 2015.2. on the basis of the data available, does the 2 percent rate appear to be reasonable?

1. gdp is calculated by summing consumption, investment, and exports of all final goods and services produced within the borders of a given country during a specific period the dollar value of all final goods and services produced within the borders of a given country during a specific period government expenditures within the borders of a given country during a specific period the quantity of all final goods and services produced within the borders of a given country during a specific period

Neveready flashlights inc. needs $317,000 to take a cash discount of 3/15, net 70. a banker will loan the money for 55 days at an interest cost of $13,200. a. what is the effective rate on the bank loan? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) b. how much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 70 days instead of 15 days? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) c. should the firm borrow the money to take the discount? no yes d. if the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $317,000? e-1. what would be the effective interest rate in part d if the interest charge for 55 days were $7,200?

Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase