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Business, 16.10.2019 01:30 jennifer2129

Arecent annual report for cvs contained the following information (dollars in thousands) at the end of its fiscal year: year 2 year 1 accounts receivable $ 13,488,000 $ 12,450,000 allowance for doubtful accounts (307,000 ) (286,000 ) $ 13,181,000 $ 12,164,000 a footnote to the financial statements disclosed that uncollectible accounts amounting to $156,000 and $96,000 were written off as bad debts during year 2 and year 1, respectively. assume that the tax rate for cvs was 21 percent. required: 1. determine the bad debt expense for year 2 based on the preceding facts. (hint: use the allowance for doubtful accounts t-account to solve for the missing value.) (enter your answers in thousands not in dollars.) 2. working capital is defined as current assets minus current liabilities. would the working capital be affected by the write-off of an uncollectible account

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Arecent annual report for cvs contained the following information (dollars in thousands) at the end...
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