The Following Information Is Related to December 31 2021 Balances

question 39

Multiple Choice

The following information is related to December 31 2021 balances. $\begin{array}{lr}\text { Accounts receivable } & \$ 1,400,000 \\\text { Allowance for doubtful accounts } & 120,000 \\\text { Cash realizable value } & 1,280,000\end{array}$ During 2022 sales on account were $390000 and collections on account were $230000.Also during 2022 the company wrote off $22000 in uncollectible accounts.An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $144000.Bad debt expense for 2022 is:

• A)$46000.
• B)$24000.
• C)$144000.
• D)$ 2000.

Explain the roles of enzymes and hormones in the digestive process.

Understand the importance and function of the liver.

Recognize the significance and sources of essential nutrients.

Describe the functions and disorders associated with accessory organs in digestion.

---

Definitions:

Amounts Due

Financial obligations or debts that are payable to another party or entity.

Grace Period

A time frame after a due date during which a payment can be made without penalty or impact on credit standing.

Interest Charges

The cost incurred by borrowing money, expressed as a percentage of the total amount borrowed, paid to the lender as compensation.

Accounting Issues

Accounting Issues encompass any uncertainties, complexities, or challenges that arise in the practice of accounting, including interpretation of standards, error correction, and ethical considerations.