Birkan Company Reported the Following Information: During 2021, Sales

question 144

Multiple Choice

Birkan Company reported the following information: During 2021, sales on account were $145,000 and collections on account were $100,000.Also during 2021, the company wrote off $4,000 in uncollectible accounts.An analysis of outstanding receivable accounts at year-end indicated that uncollectible accounts should 1.The change in the cash realizable value from the balance at 12/31/20 to 12/31/21 was a

• A)$36,000 increase.
• B)$37,000 increase.
• C)$40,000 increase.
• D)$41,000 increase.

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Definitions:

Composed

Pertains to being made up of several parts or elements.

Variance

A measure of how much values in a data set differ from the mean of the data set.

Binomial Distribution

A probability distribution that summarizes the likelihood of a value taking one of two independent states and is used for experiments that have two possible outcomes (success or failure).

P

Generally denotes probability, representing the likelihood of a particular event or outcome occurring.