Midpoint Ltd Provided the Following Information for the Year Ended

question 28

Multiple Choice

Midpoint Ltd provided the following information for the year ended 30 June 2016.
Revenue $195 000
Accounts receivable 1 July 2015 20 000
Accounts receivable 30 June 2016 30 000
Bad debts written off during the year* 6 000
* Direct method (debit bad debts expense $6000; credit accounts receivable $6000) .
Cash receipts from customers for the year ending 30 June 2016 were:

• A)$195 000.
• B)$179 000.
• C)$185 000.
• D)$191 000.

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Definitions:

Sensorimotor Stage

The first of the four stages of cognitive development in Piaget's theory, spanning from birth to about 2 years of age, where infants learn about the world through their sensory impressions and motor activities.

Conservation

A cognitive ability in child development, identified by Piaget, where a child understands that properties such as mass, volume, and number remain the same despite changes in the forms of objects.

Emotional Attachment

A deep and enduring emotional bond that connects one person to another across time and space.

Primates

An order of mammals that includes humans, apes, monkeys, and prosimians, characterized by large brains, forward-facing eyes, and opposable thumbs.