Igor Corporation's Accounts Receivable, Net of Allowance for Uncollectibles, Were

question 22

Multiple Choice

Igor Corporation's accounts receivable, net of allowance for uncollectibles, were $250,000 at December 31, Year 3, and $350,000 at December 31, Year 4.Net cash sales for Year 4 were $300,000.The accounts receivable turnover was 6.0.Igor's net sales for Year 4 were

• A)$1,500,000
• B)$1,800,000
• C)$2,000,000
• D)$2,100,000
• E)$2,200,000

---

Definitions:

Dissolve

The process of legally dissolving a corporation or partnership, effectively terminating its existence.

Termination

The act of ending something, such as a contract, employment, or agreement, either through mutual consent or by one party's decision.

Appraisal Rights

Legal rights that allow shareholders to demand an independent evaluation of their shares' value, typically in the context of a corporate action like a merger.

Dissenting Shareholders

Shareholders who do not agree with certain corporate actions, such as mergers or acquisitions, and may have rights to receive payment for their shares.