The Following Information Is Related to December 31, 2021 Balances

question 92

Multiple Choice

The following information is related to December 31, 2021 balances. During 2022, sales on account were $870,000 and collections on account were $516,000.The company wrote off $48,000 in uncollectible accounts.An analysis of outstanding receivable accounts at year-end indicated that bad debts should be estimated at $324,000.The change in the cash realizable value from the balance at 12/31/21 to 12/31/22 was a

• A)$300,000 increase.
• B)$354,000 increase.
• C)$252,000 increase.
• D)$306,000 increase.

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Definitions:

Primary Research

New research activity undertaken to prepare a communications plan or activity (e.g., a survey, focus group, or other form of research).

Secondary Research

The process of using existing research data or findings from previous studies for a new analysis or insight.

Case Study

An in-depth investigation or analysis of a particular instance, event, or individual, often used in research to illustrate broader principles or outcomes.

Dermatologists

Medical professionals who specialize in the treatment of skin, nails, and hair-related diseases and conditions.