Abundant Returns
This Company Sells Its Merchandise Only on Credit

question 99

Essay

Abundant Returns
This company sells its merchandise only on credit.The following data are available at December 31,2012.
$\begin{array}{ll}\text {Sales } &\$ 411,000 \\\text { Sales returns and allowances} &12,000 \\\text { Account s receivable at January 1,2012 } &89,000 \\\text { Allowance for doubtfil accounts at January 1, 2012 } &4,100 \\\text { Cash collections during 2012 } &385,100 \\\text {Accountswritten off as uncollected during 2012 } &3,600\end{array}$
-Refer to Abundant Returns.Determine the balance of Accounts Receivable at December 31,2012.

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Definitions:

Collectivist Societies

Societies that prioritize the group over individual goals and value interdependence, cooperation, and social harmony.

Competitive Games

Games or activities designed with rules where individuals or teams compete against each other to achieve a certain goal.

Sociodramatic Play

A type of play where children enact scenes from real life or imaginary scenarios, often involving role-playing and interaction with peers.

Authoritarian

A leadership or governmental structure characterized by absolute or near-absolute control without much personal freedom.