Abbot Safe & Lock
the Following Information Was Obtained from the Company's

question 158

Multiple Choice

Abbot Safe & Lock
The following information was obtained from the company's records for Year 1:
$\begin{array}{lr}\text { Credit sales during the year } & \$ 3,200,000 \\\text { Accounts receivable-December 31, Year 1 } & 325,000 \\\text { Allowance for doubtful accounts-December 31, Year 1 } & 35,000 \\\text { Bad debt expense for the year } & 20,000\end{array}$

-Refer to the figure Art Shoes.At the maturity date,the customer pays for the note and interest.The company made the proper adjustment at the end of December for interest.What is the effect of recognizing the transaction on the maturity date?

• A) decrease to cash
• B) increase to notes receivable
• C) increase to discount on notes receivable
• D) decrease to notes receivable

---

Definitions:

Social Aspects

Elements that involve the interaction between individuals within a society, including norms, behaviors, and social structures.

Gender Construction

The social and cultural process by which gender differences and roles are defined, established, and reinforced within a society.

Sexual Orientation

A characteristic of individuals that defines those they are physically or romantically attracted to, such as being heterosexual, homosexual, bisexual, etc.

Transgendered

Referring to people whose gender identity differs from the sex they were assigned at birth.