Wren company had the following account balances at december 31, year 1: accounts receivable $ 900,000 allowance for doubtful accounts before any provision for year 1 doubtful accounts expense) 16,000 credit sales for year 1 1,750,000 wren is considering the following method of estimating doubtful accounts expense for year 1: • based on credit sales at 2% • based on accounts receivable at 5% what amount should wren charge to doubtful accounts expense under each method?

Grace period is a period of time before the credit card company starts charging late fees.truefalse

An annuity that goes on indefinitely is called a perpetuity. the payments of a perpetuity constitute a/an series. the equation is: a stock with no maturity is an example of a perpetuity. quantitative problem: you own a security that provides an annual dividend of $170 forever. the security’s annual return is 9%. what is the present value of this security? round your answer to the nearest cent. $

10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.