A Company Reports Net Accounts Receivable of $107 460 on Its

question 98

Multiple Choice

A company reports Net accounts receivable of $107 460 on its 31 December 2013 balance sheet. The Allowance for doubtful debts has a credit balance of $3 200. What is the balance in Accounts receivable?

• A)$107 460
• B)$105 860
• C)$104 260
• D)$110 660

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Definitions:

Scarcity

Occurs when the amount people desire exceeds the amount available at a zero price.

Choice

The act of selecting between two or more possibilities, often present in decision-making processes.

Economics

The study of how people use their scarce resources to satisfy their unlimited wants

Physical Capital

Manufactured items used to produce goods and services; includes new plants and new equipment.