Aging method on january 1, 2019, hungryman, inc., has the following balances for accounts receivable and allowance for doubtful accounts: accounts receivable $1,271,000 allowance for doubtful accounts (a credit balance) 42,000 during 2019, hungryman had $18,500,000 of credit sales, collected $17,945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollectible. at year end, hungryman performs an aging of its accounts receivable balance and estimates that $52,000 will be uncollectible. required: 1. calculate hungryman's preadjustment balance in accou

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

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.