As Part of the Initial Investment, Omar Contributes Accounts Receivable

question 119

Multiple Choice

As part of the initial investment, Omar contributes accounts receivable that had a balance of $22,500 in the accounts of a sole proprietorship. Of this amount, $2,000 is completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $1,500. The amount debited to Accounts Receivable for the new partnership is

• A) $19,000
• B) $22,500
• C) $21,000
• D) $20,500

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Definitions:

Y

Often used to denote the dependent variable or the output value in a function, commonly represented on the vertical axis in a Cartesian coordinate system.

Positive Exponents

Powers of a number that signify how many times the number is multiplied by itself.

Expression

A combination of symbols that represents a quantity or a relationship between quantities, without an equality sign unlike an equation.

Rules Of Exponents

Mathematical guidelines for performing operations involving powers, including multiplication, division, and raising powers to powers.