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QUESTION 20 Anita wants to windraw 51.000 per month for the next 10 years. She will withdraw the first amount in one month. The bank
QUESTION 20 Anita wants to windraw 51.000 per month for the next 10 years. She will withdraw the first amount in one month. The bank pays Interest at 5% compounded monthly. How much does she need to deposit today to do this? O $12.498.78 Some other number O 582 421.48 594 281,35 O $120.000.00 QUESTION 21 Justin had a beginning balance in Accounts Receivable of 550.000 and a beginning balance in the Allowance for Doubtful Accounts of 52 500. Justin had written off $1.500 of accounts receivable during the year. During the year he sold $395.000 of goods on credit and collected $300.000. Justin estimates that 5% of his ending accounts receivable will eventually not be collected, his adjusting Journal entry to record bad debt expense will be Bad Debt Expense 5.250 Allowance for Doubtful Accounts 5.250 Bad Debt Expense 6.250 Allowance for Doubtful Accounts 6.250 Bad Debt Expense 6,175 Allowance for Doubtful Accounts 6.175 Some other entry O Bad Debt Expense 5,175 Allowance for Doubtful Accounts 5,175
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