Moore CoHad a Beginning Balance in Accounts Receivable of $12,000

question 74

Multiple Choice

Moore Co.had a beginning balance in accounts receivable of $12,000.During the year,it had credit sales of $150,000.Moore received payments on account of $140,000.At the end of the year,accounts receivable has a:

• A) debit balance of $22,000.
• B) credit balance of $22,000.
• C) debit balance of $2,000.
• D) credit balance of $2,000.

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Definitions:

Profitability

The extent to which an enterprise or operation generates income or economic benefits.

Largest Firms

The biggest companies within a particular market or industry based on criteria such as revenue, employees, or market capitalization.

Product Variation

The process by which firms make a product distinct from similar products offered by competitors, through features, design, or quality.

Mutual Interdependence

A situation in which the outcomes, actions, or decisions of two or more parties affect each other.