On November 15, 2016, LaGrow Developers Sold a Parcel of Land

question 53

Multiple Choice

On November 15, 2016, LaGrow Developers sold a parcel of land for $4,000,000. They had originally paid $3,000,000 for the land. The terms of the sale called for a $2,000,000 down payment, and the balance in two equal installments payable on November 15, 2017 and November 15, 2018. Disregard interest charges. LaGrow has a December 31 year-end. Refer to LaGrow Developers. Assuming that LaGrow uses the installment sales method, in its December 31, 2016 balance sheet, the company would report ________. (Do not round intermediary calculations, and round your final answer to the nearest whole dollar.)

• A) $1,500,000 net installment account receivable
• B) $1,000,000 net installment account receivable
• C) $4,000,000 net installment account receivable
• D) $2,000,000 net installment account receivable

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Definitions:

Employee Resistance

The opposition or pushback by employees against changes proposed by management, often due to fear of the unknown or loss of security.

Facilitation And Support Approach

A strategy aimed at helping individuals or groups achieve their goals by providing necessary guidance, resources, or assistance.

Resistance To Change

is the unwillingness or opposition of individuals or groups within an organization to adopt new strategies, processes, or changes, often due to fear of the unknown or loss of comfort.

Education And Communication Strategy

A planned approach to disseminating information and fostering learning, typically aimed at achieving specific organizational objectives or societal goals.