At the Beginning of 2019,Statewide Delivery Company Has the Following $\$ 44,000$

question 75

Multiple Choice

At the beginning of 2019,Statewide Delivery Company has the following account balances: Accounts Receivable $\$ 44,000$ (debit balance)
Allowance for Bad Debts $\$ 8000$ (credit balance) Bad Debts Expense $0
During the year,credit sales amounted to $800,000.Cash collected on credit sales amounted to $780,000,and $16,000 has been written off.At the end of the year,the company adjusted for bad debts expense using the percent-of-sales method and applied a rate,based on past history,of 3.5%.The ending balance of Accounts Receivable is ________.

• A) $44,000
• B) $48,000
• C) $56,840
• D) $16,000

---

Definitions:

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations and culminating in significant loss of life and the eventual defeat of Nazi Germany and Imperial Japan.

SARS Epidemic

A viral respiratory disease outbreak caused by the SARS coronavirus (SARS-CoV) that achieved global proportions in 2002-2003.

Full Employment

Refers to the condition in an economy where all available labor resources are being used in the most efficient way possible, essentially meaning that there is no cyclical or involuntary unemployment.

Production Curve

The production curve, often referred to as the production possibility frontier, is a graph that shows the maximum number of goods or services that can be produced with a fixed amount of resources.