Abbot Safe & Lock the Following Information Was Obtained from the Company's

question 27

Multiple Choice

Abbot Safe & Lock The following information was obtained from the company's records for 2012:
$\begin{array}{l} \text {Credit sales dwing the year } &\$ 3,200,000 \\ \text { Accounts receivable-December 31, 2012 } &325,000 \\ \text {Allowance for doubtful ac counts-December 31, 2012 } &35,000 \\ \text {Bad debt expense for the year } &20,000\end{array}$
-Refer to Abbot Safe & Lock.What amount will the company show on its year-end balance sheet for the net realizable value of its accounts receivable?

• A)$305,000
• B)$290,000
• C)$270,000
• D)$325,000

---

Definitions:

Conscience

Part of The Superego That Produces Guilt, depending on how acceptable behavior is.

Freud's Personality Theory

A theory proposed by Sigmund Freud that suggests personality is formed through conflicts among three fundamental structures of the human mind: the id, ego, and superego.

Id

In Freudian psychoanalysis, the part of the mind which is the source of instinctual impulses and demands for immediate satisfaction of basic needs.

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable, to suggest a resemblance.