The Ending Balance of Accounts Receivable Was $75,000

question 15

Multiple Choice

The ending balance of accounts receivable was $75,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $360,000. Sales reported on the income statement were $387,000. Based on this information, the beginning balance in accounts receivable was:

• A) $102,000
• B) $27,000
• C) $103,000
• D) $48,000

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Definitions:

Lateral Rectus

A muscle in the eye that abducts the eyeball, allowing movement of the eye laterally towards the temple.

Superior Oblique

A muscle of the eye that contributes to downward and outward movements.

Superior Rectus

A muscle in the eye that controls upward gaze.

Inferior Rectus

A muscle in the eye that primarily contributes to downward eye movement.