At December 1, 2015, Cursive Company's Accounts Receivable Balance Was

question 29

Multiple Choice

At December 1, 2015, Cursive Company's accounts receivable balance was $1,800. During December, Cursive had credit revenues of $7,200 and collected accounts receivable of $6,000. At December 31, 2015, the accounts receivable balance is

• A)$600 debit.
• B)$3,000 debit.
• C)$600 credit.
• D)$3,000 credit.

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Definitions:

Opportunity Cost

The exclusion of favorable outcomes from different choices upon selecting one option.

Increasing Opportunity Cost

A scenario where choosing more of one option increasingly limits the ability to choose other options, demonstrating the trade-offs in resource allocation.

Straight Line

A direct path between two points in a plane or three-dimensional space, having no curvature.

Opportunity Costs

The expense of the best alternative given up to make a choice.