Use the Following to Answer Questions

question 100

Multiple Choice

Use the following to answer questions
The Miller Company earned $190,000 of revenue on account during 2016.There was no beginning balance in the accounts receivable and allowance accounts.During 2016 Miller collected $136,000 of cash from its receivables accounts.The company estimates that it will be unable to collect 3% of its sales on account.
37.The amount of uncollectible accounts expense recognized on the 2016 income statement was
A.$5,700.
B.$1,320.
C.$4,080.
D.$54,000.
Answer: A
Learning Objective: 07-01
Topic Area: Uncollectible accounts ― Percent of revenue method
AACSB: Knowledge Application
AICPA: FN Measurement
AICPA: BB Critical Thinking
Blooms: Apply
Level of Difficulty: 2 Medium
Feedback: $190,000 revenue on account x 3% = $5,700
-The net realizable value of Miller's receivables at the end of 2016 was

• A)$54,000.
• B)$49,920.
• C)$59,700.
• D)$48,300.

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Definitions:

Rung

A level or step in a ladder logic diagram or PLC programming, representing a basic control element or condition.

Bit Level Instructions

Operations that manipulate individual bits within a byte or word in computer programming or digital logic.

Addresses

In computing, addresses refer to specific locations in memory or storage where data is stored, allowing for precise access and manipulation of data by the system or the users.

CLX

Often relates to ControlLogix, a range of programmable logic controllers (PLCs) and systems designed by Rockwell Automation for industrial automation.