Based on the Aging of Its Accounts Receivable at December

question 74

Multiple Choice

Based on the aging of its accounts receivable at December 31,Quanto Company determined that the net realizable value of the receivables at that date is $760,000.Additional information is as follows:

Quanto's doubtful accounts expense for the year ended December 31 is

• A)$80,000.
• B)$96,000.
• C)$120,000.
• D)$160,000.

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Definitions:

Profile

A description or analysis of something that presents its key characteristics or qualities.

Headwaters

The location or general area where a stream or river begins.

Perennial

Describes plants that live for more than two years or streams that flow continuously throughout the year.

Gradient

A rate of inclination or slope, or the rate at which a physical quantity changes with respect to change in another quantity.