The Balance in Accounts Receivable Was $650,000 at the Beginning

question 57

Multiple Choice

The balance in Accounts Receivable was $650,000 at the beginning of the year and $350,000 at the end of the year. Sales for the year totaled $4,100,000. During the year, $400,000 in customer accounts were written off. How much cash was collected from customers during the period?

• A)$4,800,000
• B)$4,400,000
• C)$4,000,000
• D)$3,750,000

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Definitions:

Frontal Lobe

The part of the human brain that is responsible for voluntary movement, speech, and complex cognitive functions.

Medial Forebrain Bundle

A complex network of neurons in the brain that is involved in the regulation of motivation and pleasure, among other functions.

Cerebral Cortex

The outer layer of the cerebrum, playing a key role in memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Amygdala

A section of the brain's limbic system involved in emotion regulation, especially fear and pleasure.