The balance in Accounts Receivable was \( \$ 690,000 \) at the beginning of the year and \( \$ 750,000 \) at the end of the year. Credit sales for the year totaled \( \$ 4,100,000 \). During the year, \( \$ 450,000 \) in customer accounts were written off. How much cash was collected from customers during the period?

E5-32B. (Learning Objective 5: Apply GAAP for uncollectible receivables) At December 31, 2024, Concord Travel Agency has an Accounts Receivable balance of \( \$ 87,000 \). Its net accounts receivable is \( \$ 86,120 \) before the year-end adjustment. Service revenue (all on account) for 2024 was \( \$ 800,000 \). Concord estimates that its bad debt expense for the year is \( 3 \% \) of service revenue. Requirêments 1. Calculate Concord's bad debt expense for 2024 . 2. How are Concord's balance sheet and income statement impacted by the adjustment to recognize bad debt expense for the year? 3. Calculate the net realizable value of accounts receivable as of December 31,2024 .

\( \$ 5,500 \) is deposited at the end of each quarter in an account that earns \( 7 \% \) compounded quarterly until \( \$ 100,000 \) has accumulated in the account. This scenario describes the ---Select--- for ? s . From the formula in the textbook, all values are known, except After how many quarters will the account contain \( \$ 100,000 \) ? (Round your answer UP to the nearest quarter.) quarters

E5-32B. (Learning Objective 5: Apply GAAP for uncollectible receivables) At December 31,2024 , Concord Travel Agency has an Accounts Receivable balance of \( \$ 87,000 \). Its net accounts receivable is \( \$ 86,120 \) before the year-end adjustment. Service revenue (all on account) for 2024 was \( \$ 800,000 \). Concord estimates that its bad debt expense for the year is \( 3 \% \) of service revenue. Requirements 1. Calculate Concord's bad debt expense for 2024 . 2. How are Concord's balance sheet and income statement impacted by the adjustment to recognize bad debt expense for the year? 3. Calculate the net realizable value of accounts receivable as of December 31,2024 .

ASK YOUR TEACHER \( \quad \) PRACTICE ANOTHER Find the annual percentage yield for an investment at the following rates. (Round your answers to two decimal places.) (a) \( 7.6 \% \) compounded monthly

Find the annual percentage yield for an investment at the following rates. (Round your answers to two decimal places.) (a) \( 7.6 \% \) compounded monthly (b) \( 8 \% \) compounded continuously