If Credit Sales for the Year Are $120,000 and the Accounts

question 3

Multiple Choice

If credit sales for the year are $120,000 and the accounts receivable balance has increased by $10,500 over the year, how much cash was received from accounts receivable during the year?

• A)$130,500.
• B)$109,500.
• C)$120,000.
• D)$10,500.

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Definitions:

AFL

The American Federation of Labor, a national federation of labor unions in the United States, founded in 1886, focusing on advocating for workers' rights and interests.

Revolutionary Union

A labor union that seeks radical change in society and the economy, often advocating for the overthrow of existing class structures.

Industrial Workers of the World

An international labor union founded in 1905, also known as the Wobblies, aimed at unifying workers in a global struggle for socialism.

Knights of Labor

An influential labor organization in the late 19th century in the United States that aimed to protect and fight for workers' rights.