Indigo Corporation uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts on the below information. Total 0–30 31–60 61–90 91–120 Over 120
Accounts Receivable $472,000 $308,000 $88,000 $45,000 $18,000 $13,000
% uncollectible 1% 4% 5% 9% 11%
Estimated bad debts $ $ $ $ $ $

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

Bcorporation, a merchandising company, reported the following results for october: sales $ 490,000 cost of goods sold (all variable) $ 169,700 total variable selling expense $ 24,200 total fixed selling expense $ 21,700 total variable administrative expense $ 13,200 total fixed administrative expense $ 33,600 the contribution margin for october is:

Only the united states has embassies. true or false