Smart Art Is a New Business

question 77

Multiple Choice

Smart Art is a new business.During its first year of operations,credit sales were $45,000 and collections from credit sales were $31,000.One account for $600 was written off.Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible.What is the balance of Accounts Receivable at the end of the first year?

• A)$14,000
• B)$12,050
• C)$13,400
• D)$12,650

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Definitions:

Rescorla-Wagner

A model proposing that the strength of a conditioned response depends on the unexpectedness of the unconditioned stimulus.

Comparator Theory

The theory that the ability of a particular stimulus to elicit a conditioned response (CR) depends upon a comparison of the level of conditioning to that stimulus and to other stimuli paired with the unconditioned stimulus (UCS).

Attentional Theory

The theory or set of theories that describe how individuals focus on specific stimuli and how this focus affects perception and cognitive processes.

Blocking Effect

A phenomenon in learning where the presence of an established condition stimulus prevents the acquisition of a new conditioned stimulus.