At the Beginning of 2014, Mark's Sales Had the Following

question 152

Multiple Choice

At the beginning of 2014, Mark's sales had the following ledger balances: During the year there were $450,000 of credit sales, $460,000 of collections, and $3,700 of write-offs. At the end of the year, Mark's adjusted for uncollectible account expense using the aging method, and calculated an amount of $1,600 as their estimate of uncollectible accounts. At the end of the year, what was the balance in the Accounts receivable?

• A)$10,300
• B)$3,700
• C)$14,000
• D)$21,300

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Audit Trail

A record that traces the detailed financial transactions of an entity to its original source for verification purposes.

Trade Record

Documentation or data that keeps track of all trading activities, including purchases and sales of securities.

Paper Trail

A series of documents or records that provide evidence of a person's or organization's transactions, actions, or history.

Expected Returns

The anticipated amount of profit or loss an investment is predicted to generate based on historical or projected performance.