After working for 35 years, Adam was able to accumulate $641,000 in his retirement account. He decided to move the money from the stock market and deposited it in an account that pays 3% compounded quarterly. Adam wishes to withdraw $8900 each quarter until the fund is depleted. Approximately how many YEARS will it take Adam to deplete the account

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false