If $38,000 Was Generated in Sales and There Was an Increase

question 117

Multiple Choice

If $38,000 was generated in sales and there was an increase to Accounts Receivable of $3,100, what would be the cash amount received from customers?

• A) $38,000
• B) $3,100
• C) $34,900
• D) $41,100

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.

Demand Increases

A situation where the quantity of a product or service desired by buyers exceeds the quantity supplied at a particular price.

Supply Decreases

A condition in the market where the quantity of a product or service available for sale declines, which can lead to higher prices.

Quantity Supplied

is the amount of a good or service that producers are willing and able to sell at a given price over a specified period of time.