2/31/2020: during 2020, $10,000 in accounts receivable were written off. at the end of the second year of operations, yolandi company had $1,000,000 in sales and accounts receivable of $400,000. xyz’s management has estimated that 1.5% of sales will be uncollectible. for the end of 2020, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts: bad debt expense: allowance for doubtful accounts: for the end of 2020, what is the company's net realizable value?

$395,000

Explanation:

Bad Debt expense:

= 1.5% of sales will be uncollectible

= 1.5% × $1,000,000

= 0.015 × $1,000,000

= $15,000

Allowance for Doubtful accounts:

= Bad Debt expense - accounts receivable written off

= $15,000 - $10,000

= $5,000

Net realizable value:

= Accounts receivable - Allowance for Doubtful accounts

= $400,000 - $5,000

= $395,000

no u can still get a job there u just have to be determined.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.