The Boat Works Started the Month with $3

question 78

Multiple Choice

The Boat Works started the month with $3.21 million in accounts receivable.Sales for the month were $7.84 million.The firm collects 18% of its sales in the month of sale with the remainder paid the following month.What is the accounts receivable balance at month end?

• A) $4,621,200
• B) $6,428,800
• C) $9,061,000
• D) $1,411,200

---

Definitions:

Stage 2 Sleep

The second phase in the sleep cycle, characterized by a deeper level of sleep than stage 1, with the presence of sleep spindles and K-complexes in the brain waves.

Defining Characteristic

A unique attribute or feature that establishes the distinct nature of something or someone.

Growth

The process of increasing in size, maturity, or complexity, often associated with physical, emotional, or intellectual development.

Development

The progressive changes in size, shape, and function during the life of an organism, or the advancement of societal, economic, or technological structures.