You expect to receive $5,000 at graduation one year from now. your plan is to invest this money at 6.5 percent, compounded annually, until you have $50,000. at that time, you plan to travel around the world. how long from now will it be until you can begin your travels? group of answer choices

A.She will earn the same amount of interest each year.B.She could have the same future value and invest less than $2,000 initially if she could earn more than 6.5 percent interest

Explanation:

(D) $5,300

Explanation:

During the year, credit sales were $800,000 => Accounts Receivable increased $800,000

Customers' accounts collected were $810,000=> Accounts Receivable decreased $810,000

The company wrote off $4,000 in worthless accounts => Accounts Receivable decreased $4,000 and the Allowance for Doubtful Accounts decreased $4,000

At the end of the year, before adjusting, the balance of

Accounts Receivable = $140,000+$800,000-$810,000-$4,000 = $126,000

Allowance for Doubtful Accounts = $5,000-$4,000 = $1,000

Bad Debts were estimated: 5% x $126,000 = $6,300

Bad Debts Expense should be provided: $6,300-$1,000 = $5,300