Smart Art Is a New Business

question 77

Multiple Choice

Smart Art is a new business.During its first year of operations,credit sales were $45,000 and collections from credit sales were $31,000.One account for $600 was written off.Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible.What is the balance of Accounts Receivable at the end of the first year?

• A)$14,000
• B)$12,050
• C)$13,400
• D)$12,650

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Definitions:

Second Language

The ability to speak, understand, read, and write a language that is not one's native language.

Linguistic Determinism

The hypothesis that language determines the structure of thought and perceptions of the world.

Language Influence

The effect that language has on perception, thought, and behavior, following the theory that the language we use shapes our understanding of the world around us.

Procedural Memory

A type of long-term memory involved in the learning of skills and procedures that can be performed without conscious thought.