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Please answer the following THREE parts to the question (a, b AND c) I'll give an awesome rating. Thanks ! Question #8 (10 POINTS) Big
Please answer the following THREE parts to the question (a, b AND c) I'll give an awesome rating. Thanks !
Question #8 (10 POINTS) Big Bowl, Inc. uses the aging method to estimate its bad debts. The information below has been collected regarding the company's outstanding customer accounts and their probability of collection: Account Age 0-30 days 31-60 days 61-90 days 91-120 days Over 120 days Probability of Non-Collection 0.5% 1.0% 1.5% 3.0% 15.0% Amount Owed $652,800 205,700 128,000 75,500 29,000 The balance in Big Bowl's' Allowance for Uncollectible Accounts account at year end before adjusting for a bad debt estimate is $360. Calculate the following amounts for Big Bowl, Inc.: A. Expected bad debt expense B. Total balance in accounts receivable C. Net realizable value of Big Bowl's accounts receivableStep by Step Solution
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