The Following Information Is Provided for Atlanta, Inc How Much Is the Balance in the Accounts Receivable Account

question 81

Multiple Choice

The following information is provided for Atlanta, Inc..
$\begin{array}{lcc}\text { Balance Sheet}&2017&2016\\\text { Cash and cash equivalents } & \$ 89,000 & \$ 106,000 \\\text { Accounts Receivables, less allowance for doubtful } & & \\\text { accounts of } \$ 4,600(2017) \text { and } \$ 2,000(2016) & 198,000 & 154,000\end{array}$

How much is the balance in the Accounts Receivable account at December 31, 2017?

• A)$193,600
• B)$158,600
• C)$202,600
• D)$203,600

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Definitions:

Carrying Amount

The net value of an asset or liability according to a company's balance sheet, also known as book value.

Cash Dividends

Distributions of a company's earnings to its shareholders in the form of cash.