The Balance in Accounts Receivable Was $650,000 at the Beginning

question 182

Multiple Choice

The balance in Accounts Receivable was $650,000 at the beginning of the year and $350,000 at the end of the year. Credit sales for the year totaled $4,100,000. During the year, $400,000 in customer accounts were written off. How much cash was collected from customers during the period?

• A) $3,750,000
• B) $4,000,000
• C) $4,400,000
• D) $4,800,000

---

Definitions:

Geert Hofstede

A Dutch social psychologist known for his work on the comparison of cultures across nations, especially for developing the cultural dimensions theory.

Culture

The shared beliefs, customs, practices, and social behavior of a particular nation, group, or society.

Americans

Refers to the people of the United States of America or their characteristics, culture, or attributes.

Handshake

A greeting or parting tradition involving the grasping and shaking of each other's hands, often used to convey trust, respect, or agreement.