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I've attempted these over and over and I cannot seem to figure them out/get them right and since the professor refuses to answer questions or
I've attempted these over and over and I cannot seem to figure them out/get them right and since the professor refuses to answer questions or give you the answer once you are done with the quiz I can't pinpoint where I am going wrong. If you could please answer these questions with HOW you got the answer it would help me out tremendously. Thanks
Question 1 O out of 1 points Duncan Corporation uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 4% uncollectible rate. Accounts more than 60 days are considered old and have a 39% uncollectible rate. Duncan's Allowance for doubtful accounts currently has an unadjusted credit balance of $2,500. If Duncan has $95,300 of young accounts and $10,800 of old accounts, how much should be reported in the adjusted Allowance for doubtful accounts? Question 2 O out of 1 points Hope Company's total assets were $18,535. Hope determined that an $1,094 account receivable was uncollectible and wrote off the receivable. After the write off, Hope's total assets will be $ Question 3 1 out of 1 points Ava Company sets bad debt expense at 3 percent of its sales. Ava reported total sales of $ 74,408. Before the adjustment, Ava had $649 credit balance in its allowance for doubtful accounts. How much bad debt expense did Ava report on its income statement? Question 4 O out of 1 points On June 1, 2018, Bodie Co. accepted a $6,700 face value note as evidence of a loan it made to T Company. The note had a 10 percent interest rate and a one-year term. What is the interest revenue recognized by Bodie in 2019? Question 5 O out of 1 points At the beginning of 2018 Evan Company had a $1,464 balance in its accounts receivable account and a $382 balance in allowance for doubtful accounts. During 2018, Evan experienced the following events. (1) Earned $4,631 of revenue on account. (2) Collected $1,850 cash from accounts receivable. (3) Wrote-off $345 of accounts receivable as uncollectible. Evan estimates uncollectible accounts to be 2% of sales. Based on this information, the December 31, 2018 adjusted balance in the allowance for doubtful accounts is
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