Use the Following Information for Questions Below

question 100

Multiple Choice

Use the following information for questions below
Bailey Inc.'s books revealed the following data for 2020 after all adjustments were made:
Cash sales        $825,000
Sales returns (on credit sales)    35,000
Allowance for doubtful accounts (credit balance)     3,800
Credit sales    575,000
Accounts receivable     168,000
Bailey estimates bad debt expense based on 2% of net credit sales.
-The net carrying value of accounts receivable before the bad debt expense is recognized is

• A)$156,500.
• B)$164,200.
• C)$168,000.
• D)$171,800.

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Definitions:

Pleural Cavity

The thin space between the lung and the chest wall, lined by pleural membranes, containing a small amount of lubricating fluid.

Pleuritis

An inflammation of the pleura, the thin tissue layers surrounding the lungs, causing sharp chest pain.

Pleura

The thin membranes enveloping the lungs and lining the inside of the chest cavity, which help facilitate smooth lung movement during breathing.

Difficulty Breathing

A sensation of not being able to draw a deep breath or experiencing shortness of breath; a symptom of various medical conditions.