Lifetime Sells Softball Equipment

question 88

Multiple Choice

Lifetime sells softball equipment. On November 14, they shipped $3,000 worth of softball uniforms to Palos Middle School, terms 2/10, n/30. On November 21, they received an order from Tinley High School for $1,800 worth of custom printed bats to be produced in December. On November 30, Palos Middle School returned $300 of defective merchandise. Lifetime has received no payments from either school as of month end. What amount will be recognized as net accounts receivable on the balance sheet as of November 30?

• A) $2,700
• B) $3,000
• C) $4,500
• D) $4,800

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Definitions:

Win-Lose Approach

A competitive strategy or mindset where success is achieved at the expense of others, focusing on one's own gain without regard for collective outcomes.

Neutrality

The state of not supporting or helping either side in a conflict or disagreement; impartiality.

Passive Person

An individual who tends to accept or allow what happens or what others do without active response or resistance.

Elicit

To draw out a response, answer, or fact from someone in a subtle or skillful manner.