Pharoah Manufacturing Company currently owns a mine that is known to contain a certain amount of gold. Since Pharoah does not have any gold-mining expertise, the company plans to sell the entire mine and base the selling price on a fixed multiple of the spot price for gold at the time of the sale. Analysts at Pharoah have forecast the spot price for gold and have determined that the price will increase by 15 percent, 13 percent, 9 percent, and 7 percent during the next one, two, three, and four years, respectively. If Pharoah’s opportunity cost of capital is 10 percent, what is the optimal time for Pharoah to sell the mine?

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)