After the Accounts Are Adjusted and Closed at the End

question 89

Multiple Choice

After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $340,000 and Allowance for Doubtful Accounts has a balance of $51,000. What is the net realizable value of the accounts receivable?

• A) $51,000
• B) $289,000
• C) $340,000
• D) $391,000

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Definitions:

Grounded in Rules

Based on or derived from a set of explicit or understood regulations or principles.

Competitive

Describes a nature or condition where individuals or groups strive against others to achieve a goal or superior status.

Pleasurable

Describes experiences or sensations that are enjoyable or satisfying to an individual.

Harry Stack Sullivan

An American psychiatrist known for his theory of interpersonal relationships and his contributions to the development of psychoanalytic and psychodynamic theories of personality.