Table 9-11 Mark's Sales
at the Beginning of 2019, Mark's

question 11

Multiple Choice

Table 9-11 Mark's Sales
At the beginning of 2019, Mark's sales had the following ledger balances:
$$\begin{array} { | c | c | c | c | c | } \hline \text { Date } & \text { Accounts Receivable } & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & 24,000 \text { Dr. } \\\hline & & & & \\\hline\end{array}$$ $$\begin{array} { | c | c | c | c | c | } \hline \text { Date } & \begin{array} { c } \text { Allowance for } \\\text { Doubtful Accounts }\end{array} & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & 1,000 \mathrm { Cr } \text {. } \\\hline & & & & \\\hline\end{array}$$ $$\begin{array} { | l | l | l | l | l | } \hline \text { Date } & \text { Bad Debts Expense } & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$ During the year there were $450,000 of credit sales, $460,000 of collections, and $3,700
of write-offs.
-Refer to Table 9-11. At the end of the year, Mark's adjusted for uncollectible account expense using the percent-of-sales method, and applied a rate, based on past history, of 1.2%. At the end of the year, what was the balance in the accounts receivable?

• A)$10,300
• B)$3,700
• C)$14,000
• D)$21,300

---

Definitions:

Consequential Life Event

A significant occurrence in one's life that leads to substantial changes in their behavior, attitude, or personal development.

Resilience

The ability to recover quickly from difficulties; a form of emotional strength.

Optimism

A mental attitude characterized by hope and confidence in success and a positive future.

Posttraumatic Growth

Positive psychological changes experienced as a result of the struggle with highly challenging life circumstances.