A Water Tank Can Be Filled in 12 Hours by an Inlet

question 39

Multiple Choice

A water tank can be filled in 12 hours by an inlet pipe and emptied in 30 hours by an outlet pipe. How long will it take to fill the tank if both pipes are left open?

• A)60 hours
• B)21 hours
• C)30 hours
• D)42 hours
• E)20 hours

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Definitions:

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts is a contra-asset account that reflects the estimated amount of accounts receivable which may not be collectible.

Credit Sales

Transactions in which goods or services are sold and payment is deferred, allowing customers to purchase products or services on account.

Uncollectible Accounts

Accounts receivable that are recognized as uncollectible losses due to the inability to collect from the debtor.

Allowance Method

An accounting technique used to estimate and account for bad debts (uncollectible receivables) based on historical data or economic conditions.