Kiley Company had a $700 credit balance in Allowance for Doubtful Accounts (What is normal balance for the contra asset? Debit or Credit) at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following:
Estimated Percentage Uncollectible
Current Accounts $120,000 1%
1-30 days past due 12,000
31-60 days past due 10,000 8%
61-90 days past due 5,000 17%
Over 90 days dus 8,000 40%
Total Accounts Receivable $155,000
Required:
(a) Calculate the balance for the Allowance for Doubtful Accounts.
(b) Prepare the adjusting entry on December 31, 2020, to recognize bad debts expense.
(c) Calculate the net realizable value after your adjusting entry for December 31, 2020.

In order to minimize project risk which step comes after the step of identifying risks

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Dahlia enterprises needs someone to supply it with 127,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you’ve decided to bid on the contract. it will cost you $940,000 to install the equipment necessary to start production; you’ll depreciate this cost straight-line to zero over the project’s life. you estimate that in five years, this equipment can be salvaged for $77,000. your fixed production costs will be $332,000 per year, and your variable production costs should be $11.00 per carton. you also need an initial investment in net working capital of $82,000. if your tax rate is 30 percent and your required return is 11 percent on your investment, what bid price should you submit? (do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))