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Please answer every part of the question. Thank You! Young and Oid Corporation (YOC) uses two aging categories to ectimate uncollectible accounts. Accounts less than
Please answer every part of the question. Thank You!
Young and Oid Corporation (YOC) uses two aging categories to ectimate uncollectible accounts. Accounts less than 60 days are considered young and have a 5% uncollectible rate. Accounts more than 60 days are considered old and have a 40% uncollectible rate. Required: 1. If YOC has $106,000 of young accounts and $460,000 of old accounts, how much should be reported in the Allowance for Doubtiul Accounts? 2 If YOC's Allowance for Doubtful Accounts currently has an unadjusted credit balance of $46,000, how much should be credited to the account? 3. If YOC's Allowance for Doubtful Accounts has an unadjusted debit balance of $5.600. how much should be credited to the account? Express Companies reported the following rounded amounts (in millions): Required 1. Determine the recelvables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or detenoration) in recelvables turnover, compared to 2018 , When the turnover was 99 ? Complete this question by entering your answers in the tabs below. Determine the receivables turnover rabo and days to collect for 2019. (Use 365 days in a year, Do not round intermediate calculations, Round your final answers to 1 decimal place.) Express Companles reported the following rounded amounts (in millions): Required: 1. Determine the recelvables tumover ratio and days to collect for 2019 . 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in recelvables turnover, compar when the turnover was 9.9 ? Complete this question by entering your answers in the tabs below. Do the measures calculated in requirement I represent an improvement (or deterioration) in recelvables turnoveri compared to 2018 , when the turnover was 9.9 Step by Step Solution
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