Accounts Receivable Has a Debit Balance of $5,000, and the Allowance

question 85

Multiple Choice

Accounts receivable has a debit balance of $5,000, and the allowance for doubtful accounts has a credit balance of $440. A specific account of $160 is written off. What is the amount of net receivables after the write-off?

• A)$4,840
• B)$4,400
• C)$4,560
• D)$5,000

---

Definitions:

1934 Act

The Securities Exchange Act of 1934, legislation regulating the secondary trading of securities (stocks, bonds, and debentures) in the United States.

Truth in Securities Act

Also known as the Securities Act of 1933, it is a U.S. law aimed at ensuring the transparency of financial statements to protect investors from fraud.

Registration Requirement

A legal stipulation that certain types of activities, businesses, or professions must be registered with a government agency before they can be lawfully conducted or practiced.

Entire Class

A group of securities, assets, or entities that share the same characteristics within a larger set or category, often used in finance and law.