The following information relates to Jay Co.'s accounts receivable for 2004:Accounts receivable, 1/1/04$650,000Credit sales for 20042,700,000Sales returns for 200475,000Accounts written off during 200440,000Collections from customers during 20042,150,000Estimated future sales returns at 12/31/0450,000Estimated uncollectible accounts at 12/31/04110,000What amount should Jay report for accounts receivable, before allowances for sales returns and uncollectible accounts, on December 31, 2004

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%