On January 1,A Plus Services Has the Following Balances

question 114

Multiple Choice

On January 1,A Plus Services has the following balances:
Accounts Receivable $28,000 (debit)
Bad Debts Expense $0
A Plus Services has the following transactions during January: Credit sales of $110,000,collections of credit sales of $87,000,and write-offs of $19,000.A Plus Services uses the direct write-off method.At the end of January,the balance of Accounts Receivable is ________.

• A)$15,027
• B)$32,000
• C)$24,023
• D)$51,000

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Definitions:

Cost Of Goods Manufactured

The total manufacturing costs of goods that are completed and ready for sale within a specific accounting period.

Manufacturing Overhead

All manufacturing costs that are not directly traceable to a product, including costs associated with running the production facility.

Work In Process

Products that are in the middle of the production process and are not yet completed; represents a component of inventory on the balance sheet.

Finished Goods

Goods that are completed production and are now available for customer acquisition.