Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond issued by the Leisure Time Corporation. The $1 , 000 par value bond pays 8 percent annual interest and has 17 approximate answer but calculate your final answer using the formula and financial calculator methods. a. What is the current price of the bonds? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.) b. By what percent will the price of the bonds increase between now and maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) .

1. lazie Supply Co. uses the percent of accounts receivable method. On December 31 , it has
outstanding accounts receivable of 63,000 , and it estimates that 6% will be uncollectible.
Prepare the year-end adjusting entry to record bad debts expense under the assumption that the
Allowance for Doubtful Accounts (a) a $1 , 071 credit balance before the adjustment. (b) a $315
debit balance before the adjustment. Journal entry worksheet Prepare the year-end adjusting
entry to record bad debts expense under the assumption that the Allowance for Doubtful
Accounts has a $1 , 071 credit balance before the adjustment. Note: Enter debits before aredits.
Journal entry worksheet Prepare the year-end adjusting entry to record bad debts expense under
the assumption that the Allowance for Doubtful Accounts has a $315 debit balance before the
adjustment. Note: Enter debits before credits.