At the Beginning of January of the Current Year,Little Mikey's

question 169

Multiple Choice

At the beginning of January of the current year,Little Mikey's Catering ledger reflected a normal balance of $52,000 for accounts receivable.During January,the company collected $14,800 from customers on account and provided additional services to customers on account totaling $12,500.Additionally,during January one customer paid Mikey $5,000 for services to be provided in the future.At the end of January,the balance in the accounts receivable account should be:

• A)$54,700.
• B)$49,700.
• C)$2,300.
• D)$54,300.
• E)$49,300.

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Definitions:

Confidence Interval

Values range, derived from the examination of a sample, expected to enfold the value of a concealed population parameter.

Mean

The average of a set of numbers, calculated by summing the values and dividing by the count of numbers.

Variability

Indicates the range and dispersion of individual scores from the mean in a dataset.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, providing a measure of uncertainty around a sample estimate.