On April 30,Victor Services Had an Accounts Receivable Balance of $18,000.During

question 69

Multiple Choice

On April 30,Victor Services had an Accounts Receivable balance of $18,000.During the month of May,total credits to Accounts Receivable were $52,000 from customer payments.The May 31 Accounts Receivable balance was $13,000.What was the amount of credit sales during May?

• A)$5,000.
• B)$47,000.
• C)$52,000.
• D)$57,000.
• E)$32,000.

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Definitions:

Resources Required

The inputs needed for the production of goods or services, including time, labor, capital, and materials.

Long-Run Adjustment

The process of economic agents fully adapting to changes in conditions or policies over time, reaching a new equilibrium.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing the additional amount earned beyond the next best alternative.

Economies of Scale

Cost advantages that a business can achieve by increasing the scale of production, leading to a lower cost per unit of output.