Dorman Company Had the Following Items to Report on Its

question 62

Multiple Choice

Dorman Company had the following items to report on its balance sheet: $\begin{array}{lr}\text { Employee advances } & \$ 1,580 \\\text { Amounts owed by customers for the sale of services (due in } 30 \text { days) } & 3,050 \\\text { Refundable income taxes } & 1,120 \\\text { Interest receivable } & 950 \\\text { Accepted a formal instrument of credit for services (due in } 18 \text { months) } & 2,220 \\\text { A loan to company president } & 10,000\end{array}$ Based on this information what amount should appear in the "Other Receivables" category?

• A)$20300
• B)$13650
• C)$15030
• D)$17250

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Definitions:

Original Offer

The initial proposal or terms presented by one party to another during negotiations for a contract or agreement.

Terms

In a legal contract, terms are the specific details, conditions, and stipulations that are agreed upon by the parties involved.

Catalogue Price

The price of items as listed in a catalogue, often suggesting retail pricing before any discounts.

Offer to Purchase

A formal proposal to buy a property or asset, typically including terms and price.