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STatiana [176]
2 years ago
6

Becky had net sales (all on account) in 2020 of $8,000,000. At December 31, 2020, before adjusting entries, the balances in sele

cted accounts were:
accounts receivable $1,000,000 debit, and allowance for doubtful accounts $2,000 debit.

Becky estimates that 3% of its accounts receivable will prove to be uncollectible.

What is the net amount expected to be collected of the receivables reported on the financial statements at December 31, 2020?
Business
1 answer:
DerKrebs [107]2 years ago
3 0

Answer:

$970,000

Explanation:

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the question is missing the numbers, so I looked for a similar question:

Suppose you receive $100 at the end of each year for the next three years. a. If the interest rate is 8%, what is the present value of these cash flows? (Answer: $257) b. What is the future value in three years of the present value you computed in (a)? (Answer: $324.61) c. Suppose you deposit the cash flows in a bank account that pays 8% interest per year. What is the balance in the account at the end of each of the next three years (after your deposit is made)? How does the final bank balance compare with your answer in (b)?

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