A Newly Created Design Business Called Smart Art Is Just

question 48

Multiple Choice

A newly created design business called Smart Art is just finishing up its first year of operations. During the year, there were credit sales of $40 000 and collections of $36 000. One account for $650 was written off. Smart Art uses the ageing- of- accounts method to account for Bad debts expense, and has calculated an amount of $200 as their estimate of uncollectable amounts at year- end. At the end of the year, what is the ending balance in Accounts receivable?

• A)$36 000
• B)$3 350
• C)$39 350
• D)$4 000

Recognize the role of ocular fluids in maintaining eye pressure, structure, and function.

Describe the mechanisms of light regulation in the eye and the function of intrinsic eye muscles in vision.

Understand the process and significance of corneal transplantation and its success factors.

Identify the types of legal resources available for free on the Internet.

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Definitions:

Lease Payments

Periodic payments from a lessee to a lessor in exchange for the use of an asset for a set duration.

Tax Benefit

A deduction, credit, or exemption that reduces taxable income or tax liability, provided to incentivize certain activities or investments.

Operating Lease

A lease agreement for the use of an asset without ownership, typically with shorter terms than a finance lease.

Lessor

An entity or individual who leases or rents out an asset to another, known as the lessee, under a lease agreement.