At the Beginning of 2015, Peter Dots Has the Following

question 129

Multiple Choice

At the beginning of 2015, Peter Dots has the following ledger balances: During the year, credit sales amounted to $800,000. Cash collected on credit sales amounted to $760,000, and $18,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The ending balance of Accounts Receivable would be:

• A)$40,000.
• B)$62,000.
• C)$80,000.
• D)$18,000.

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Definitions:

Talcott Parsons

An American sociologist known for his work on developing a general theoretical framework for the social sciences.

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Individuals who are employed and receive compensation for their work, as opposed to volunteers or unpaid domestic workers.

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Is a school of thought that sees gender differences as a reflection of biological differences between women and men.