# Receivables and Interest Assignment

Assume you are the controller of a large medical equipment company that sells diagnostic machinery to hospitals in the local geographic region. You are currently training new employees, and in a recent training session, you report that total credit sales for the year is \$300,000, accounts receivable total \$40,000 less a \$2,000 allowance for bad debts, and bad debt expense is \$3,500. After the session, a trainee approaches somewhat confused about why bad debt expense and the allowance balance differ.

Don't use plagiarized sources. Get Your Custom Essay on
Receivables and Interest Assignment
Just from \$9/Page

Required:

Prepare a short explanation to the trainee on the difference between bad debt expense and the allowance for bad debts.

Interest on Notes Receivable

Interest Calculations:

Interest is the amount of money that is paid for the use of money that has been borrowed or to delay re-payment on debt obligations. In the table below, four notes are listed with the amount of original principal (amount borrowed), the interest rate (amount paid to borrow money) and the interest period for 2017.

Notes receivable for 2017:

 Original Principal Interest Rate Interest Period During 2017 Note 1 \$40,000 6% 3 months Note 2 \$15,000 10% 180 days Note 3 \$5,000 8% 90 days Note 4 \$250,000 7% 9 months

Required:

For each of the notes receivable, compute the amount of interest revenue earned during 2017. Round to the nearest dollar.

working_with_receivables.pdf

## Get professional assignment help cheaply

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.

## Why choose our academic writing service?

• Plagiarism free papers
• Timely delivery
• Skilled, Experienced Native English Writers
• Ability to tackle bulk assignments
• Reasonable prices

Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

### Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

### Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors: