The Balance in Accounts Receivable at the Beginning of the Year

question 2

Multiple Choice

The balance in Accounts Receivable at the beginning of the year was $530,000.The balance in Accounts Receivable at the end of the year was $710,000.Customer accounts of $480,000 were written off.The company collected $4,100,000 from credit customers and $1,030,000 from cash customers.What are credit sales for the year?

• A)$4,400,000
• B)$4,100,000
• C)$4,580,000
• D)$4,760,000

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Definitions:

Northern Wei

A dynasty in China (386–535 AD) known for significant advances in art, especially in the development of Buddhist sculpture.

Longmen Caves

A series of Chinese Buddhist cave temples located in Luoyang, China, famous for their vast collection of statues and reliefs.

Mount Wutai

A sacred Buddhist mountain located in Shanxi Province, China, known for its temples and spiritual significance.

Patrons

Individuals or institutions that support, finance, or commission works of art and artists, playing a pivotal role in the creation and dissemination of art throughout history.