On January 1, 2014, the Accounts Receivable and the Allowance

question 215

Multiple Choice

On January 1, 2014, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550 respectively. During the year, the company reported $70,000 of credit sales. There was $400 of receivables written off as uncollectible in 2014. Cash collections of receivables amounted to $74,700. The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance.
The net realizable value of receivables appearing on the 2014 balance sheet will amount to:

• A) $14,105
• B) $14,155 c .$14,900
• D )$15,450

---

Definitions:

Provincial Law Societies

Professional associations in Canadian provinces responsible for the regulation and licensure of lawyers, ensuring ethical practice within the legal profession.

Lawyer's Conduct

The behavior and actions of a lawyer, which are governed by legal, professional, and ethical standards and regulations.

Duty Counsel

Lawyers provided by the court to represent individuals who cannot afford to hire their own lawyer, typically available for immediate legal assistance in court.

Legal Assistance

Professional aid provided by lawyers or legal professionals to individuals or organizations in understanding and dealing with legal issues.