The Following Information Is Related to December 31, 2013 Balances

question 185

Multiple Choice

The following information is related to December 31, 2013 balances. $\begin{array}{lr}\text { Accounts receivable } & \$ 2,100,000 \\\text { Allowance for doubtful accounts (credit) } & (180,000) \\\text { Cash realizable value } & \$ 1,920,000\end{array}$ During 2014 sales on account were $580,000 and collections on account were $344,000. Also during 2014 the company wrote off $32,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $216,000. Bad debt expense for 2014 is

• A) $ 68,000.
• B) $ 36,000.
• C) $216,000.
• D) $ 4,000.

Know the macroeconomic policies implemented during the Great Recession and their effects.

Identify the differing views of economic schools of thought on government intervention during economic downturns.

Comprehend the role of monetary factors in influencing economic conditions according to monetarists.

Understand supply-side economics objectives and criticisms.

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Definitions:

Urie Bronfenbrenner

A psychologist known for introducing the ecological systems theory to explain how the inherent qualities of a child and the characteristics of the external environment interact to influence how the child will grow and develop.

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, especially his theory of cognitive development stages.

Developmental Theory

A framework for understanding how and why people change or remain the same over time, particularly from infancy through adulthood.