Question $27$

Spencer Corporation will invest $$10,000$ every December $31$st for the next six years $(2010-$

$.$ If Spencer will earn $12\%$ on the investment, what amount will be in the investment

fund on December $31,2015?$

$$41,114.$

$$46,048.$

$$81,152.$

$$90,890.$

Question $28$

The following information is available for Murphy Company:

Allowance for doubtful accounts at December $31,2009$

Credit sales during $2010$

Accounts receivable deemed worthless and written off during $2010$

$$8,000$

$400,000$

$9,000$

As a result of a review and aging of accounts receivable in early January $2011,$ however, it has

been determined that an allowance for doubtful accounts of $$5,500$ is needed at December

$31,2010.$ What amount should Murphy record as "bad debt expense" for the year ended

December $31,2010?$

$$4,500$

$$5,500$

$$6,500$

$$13,500$