A Company That Uses the Allowance Method,writes-Off a Receivable of $3,000.Prior

question 149

Multiple Choice

A company that uses the allowance method,writes-off a receivable of $3,000.Prior to the journal entry,the credit balance in the Allowance for Uncollectible Accounts was $23,432 and Accounts Receivable were $2,009,000.After the entry to write-off the receivable is made,the net realizable value of Accounts Receivable will be:

• A)$1,982,568.
• B)$1,985,568.
• C)$2,006,000.
• D)$2,009,000.

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Definitions:

Selective Comprehension

The process by which individuals interpret information in a manner that is consistent with their pre-existing beliefs, attitudes, and expectations, often leading to biased understanding.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, which can influence their preferences and behaviors.

Consistent Behaviors

Actions that are uniform and regular in nature, demonstrating reliability and predictability in a person or system.

Ideal Self

The perfect version of oneself that an individual aspires to be, shaped by personal aspirations, goals, and societal influences.