Cindy Estrada Is Applying for a Loan and the Bank

question 2

Multiple Choice

Cindy Estrada is applying for a loan and the bank has asked her for some financial information.Use the following data to calculate Cindy's net worth.
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• A) ​$121,025
• B) ​$129,725
• C) ​$130,375
• D) ​$131,025

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Definitions:

Subsidiary Ledger

A detailed ledger that provides a breakdown of information summarized in the general ledger, often for accounts like Accounts Receivable or Accounts Payable.

Sales Returns And Allowances

A reduction in sales revenue resulting from customers returning goods or receiving discounts for faulty or unsatisfactory products.

Sales Tax Payable

An account responsible for tracking the sales tax gathered from buyers, due to be paid to the authorities.

Accounts Receivable

Funds that customers owe to a business for goods or services already provided but not yet compensated for.