What Would Be the Account Balance in Accounts Receivable After

question 153

Multiple Choice

What would be the account balance in Accounts Receivable after the following transactions, assuming a zero beginning balance?

• A)$17,400
• B)$10,900
• C)$14,400
• D)$ 4,500
• E)$ 2,000

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Definitions:

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument to legally transfer its ownership or to approve its terms.

Order Of

Typically refers to a directive issued by a court or a sequence or arrangement of items, actions, or priorities.

Stamped Imprint

A type of mark or impression made on a document or object, often for legal or official purposes, using a stamp.

Bearer Instrument

A negotiable financial instrument that entails possession of the document itself confers ownership and thus, the entitlement to payment.