The Tanner Company Has Provided the Following Information After Year-End

question 37

Multiple Choice

The Tanner Company has provided the following information after year-end adjustments: • Allowance for doubtful accounts increased $19,000.
• Accounts receivable increased $390,000 during the year.
• Accounts written off as uncollectible totaled $20,000.
• Sales totaled $2,500,000.
• Sales discounts were $100,000.
What was the amount of Tanner's net sales?

• A)$1,990,000.
• B)$2,380,000.
• C)$2,400,000.
• D)$2,420,000.

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Definitions:

Smoothing Constant

A parameter used in exponential smoothing models to weigh the significance of the most recent observation in forecasting.

Time Series

Time Series refers to a sequence of data points collected or recorded at successive times, often at regular intervals.

Exponential Smoothing

A time series forecasting method for univariate data that applies decreasing weights over time.

Liquor Sales

The revenue generated from the sale of alcoholic beverages.