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Nature of Uncollectible Accounts The XYZ Corporation owns and operates casinos. For a recent year, The XYZ Corporation reported accounts and notes receivable of $669,000
Nature of Uncollectible Accounts The XYZ Corporation owns and operates casinos. For a recent year, The XYZ Corporation reported accounts and notes receivable of $669,000 and allowance for doubtful accounts of $83,625. Patient Care manufactures and sells a wide range of health care products. For a recent year, Patient care reported notes and accounts receivable of $880,000 and allowance for doubtful accounts of $30,800. Round your percentage answers to one decimal place. a. Compute the percentage of the allowance for doubtful accounts to the accounts and notes receivable for The XYZ Corporation. % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care. C. Which of the two companies would have a harder time determining the creditworthiness of its customers? XYZ Corporation
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