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

question 21

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 percent-of-sales method, and applied a rate, based on past history, of 1.2%. 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

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Definitions:

Sales Context

The situation or environment in which a sales interaction takes place, including factors like the market, customer needs, and competition.

Enthusiasm

A state of mind wherein a person is filled with excitement toward something.

Hearing Vs Listening

The difference between simply perceiving sound (hearing) and actively paying attention and understanding what is being communicated (listening).

Nonverbal Communication

Nonverbal communication consists of transmitting messages without the use of words, through gestures, body language, facial expressions, and other visual cues.