On the December 31, 2007 Balance Sheet of Yount Co

question 58

Multiple Choice

On the December 31, 2007 balance sheet of Yount Co., the current receivables consisted of the following: $\begin{array}{lc}\text { Trade accounts receivable } & 75,000 \\\text { Allowance for uncollectible accounts } & (2,000) \\\text { Claim against shipper for goods lost in transit (November 2007) } & 3,000 \\\text { Selling price of unsold goods sent by Yount on consignment } &\\ \text {at \( 130 \% \) of cost (not included in Yount 's ending inventory) }&26,000\\ \text {Security deposit on lease of warehouse used for storing }\\ \text { some inventories }&30,000\\ \text { Total }&\$132,000\\\end{array}$ At December 31, 2007, the correct total of Yount 's current net receivables was

• A)$76,000.
• B)$102,000.
• C)$106,000.
• D)$132,000.