At December 1 2022 Orear Company's Accounts Receivable Balance Was

question 128

Multiple Choice

At December 1 2022 Orear Company's Accounts Receivable balance was $16800.During December Orear had credit sales of $45000 and collected accounts receivable of $36000.At December 31 2022 the Accounts Receivable balance is

• A)$16800
• B)$25800
• C)$61800
• D)$9000

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Definitions:

Raw Material

The basic substance in its natural, modified, or semi-processed state, used as an input to a production process for manufacturing.

Closing Inventory

The quantity and value of stock on hand at the end of an accounting period.

Direct Material

Raw materials that can be directly attributed to the production of goods.

Finished Products

Goods that have completed the manufacturing process and are ready for sale.