Accounts Receivable Has a $2,300 Balance,and the Allowance for Doubtful

question 213

Multiple Choice

Accounts Receivable has a $2,300 balance,and the Allowance for Doubtful Accounts has a $200 credit balance.An $80 account receivable is written-off.Net receivables (net realizable value) after the write-off equals:

• A) $2,020.
• B) $2,100.
• C) $2,180.
• D) $2,220.

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Definitions:

Income

Earnings received by an individual or organization, often measured as net or gross, including wages, investment returns, and other sources.

Wealth

The total value of all financial and non-financial assets owned by an individual, community, company, or country, minus any liabilities.

Corporate Form

A legal structure of organization designated to conduct business, which can limit the liability of shareholders and associates with various tax rules.

Taxes

Mandatory financial charges imposed by governments on individuals, corporations, and transactions.