Before Adjusting Entries, Kilby Corp's Accounts Receivable and Allowance for Doubtful

question 44

Multiple Choice

Before adjusting entries, Kilby Corp's accounts receivable and allowance for doubtful accounts are $745,000 and $7,000 (credit balance) , respectively. Using an aging schedule of accounts receivable, it is determined that $60,000 of the accounts receivable would probably be uncollectible. Calculate the net realizable value of Truman's receivables at year end.

• A)$681,000
• B)$695,000
• C)$809,000
• D)$685,000

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.