On January 1, Year 1, the Accounts Receivable Balance Was

question 56

Multiple Choice

On January 1, Year 1, the Accounts Receivable balance was $31,300 and the balance in the Allowance for Doubtful Accounts was $3,800. On January 15, Year 1, an $1,120 uncollectible account was written-off. What is the net realizable value of accounts receivable immediately after the write-off?

• A)$30,180
• B)$26,380
• C)$27,500
• D)$28,620

---

Definitions:

Heuristics

Heuristics are mental shortcuts or rules of thumb that simplify decision-making processes, often used when facing complex problems.

Optimal Solution

The best possible outcome or answer among various alternatives, often determined by minimizing or maximizing a function in mathematics or operational research.

Constants

Fixed values in an equation or formula that remain unchanged.

Model

A representation, often mathematical, of a real-world process or system used to understand, predict, or control its behavior.