The Balance in Accounts Receivable at the Beginning of the Year

question 163

Multiple Choice

The balance in Accounts Receivable at the beginning of the year was $500,000.The balance in Accounts Receivable at the end of the year was $700,000.Customer accounts of $400,000 were written off.The company collected $4,000,000 from credit customers and $1,000,000 from cash customers.What are credit sales for the year?

• A)$400,000
• B)$4,000,000
• C)$4,400,000
• D)$4,600,000

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Definitions:

Male

Referring to the sex that is typically characterized by the production of small gametes (sperm) for reproduction, often associated with specific physical and hormonal traits.

Female

Referring to the sex of a species that is typically associated with reproductive functions that involve producing eggs or bearing offspring.

Newborn Babies

Infants in their first few weeks of life, characterized by rapid physical growth and developmental changes.

Imitation

The action of copying or mimicking the behaviors, actions, or appearance of someone else as a form of learning or social bonding.