the following selected transactions were taken from the records of shipway company for the first year of its operated ending December 31 apr 14 wrote off account of dean Sheppard , 8450

NUWV2 Online teachin x + Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator-&inprogressfalse Nature of Uncollectible Accounts The XYZ Corporation owns and operates hotels and casinos including the XYZ Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, XYZ reported accounts receivable of $698,000 and allowance for doubtful accounts of $134,016. Patient Care manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Patient care reported accounts receivable or $820,000 and allowance for doubtful accounts of $20,500 Round your answers to one decimal place a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for The XYZ Corporation % % b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Patient Care c. Possible reasons for the difference in the two ratios computed in (a) and (b) include: a. Casino operators historically lose money on operations. b. Casino operators have larger accounts receivable c. Individuals who may have adequate creditworthiness could overextend themselves and lose more than they can afford if they get caught up excitement of gambling. d. Casino operations experience greater bad debt risk, since it is difficult to control the creditworthiness of custo cand d HORO otto will vary across companies and industries based on their Recall that the percent of the allowance for doubthul accounts to total Recent that the percent of the allowance tor doubtru acourts to rotar accounts recevabis will vary scroll Previous Next Check My Work All work saved. ructor Save and Submit Assignment for reng