On April 30, Victor Services Had an Accounts Receivable Balance

question 165

Multiple Choice

On April 30, Victor Services had an Accounts Receivable balance of $18,000. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13,000. What was the amount of credit sales during May?

• A) $47,000.
• B) $5,000.
• C) $52,000.
• D) $32,000.
• E) $57,000.

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Definitions:

Home Currency

Home currency refers to the currency of the country in which an individual or entity primarily operates or resides.

Short-Run Financial Risk

Refers to the potential for financial loss that a company faces in the immediate future due to its obligations and operating costs.

Grain Prices

The cost at which various types of grain are bought and sold, often influenced by supply, demand, and market conditions.