On January 1, Year 2, the Accounts Receivable balance was $22,600 and the balance in the Allowance for Doubtful Accounts was $2,200. On January 15, Year 2, an $620 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is:

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Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?

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