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:

Economically Important

Referring to plants, animals, or minerals that have considerable value or significance to human economies.

Cycads

Ancient seed plants with a large crown of compound leaves and a stout trunk, often mistaken for palms or tree ferns.

Ginkgo

A member of an ancient gymnosperm group that consists of a single living representative (Ginkgo biloba), a hardy, deciduous tree with broad, fan-shaped leaves and naked, fleshy seeds (on female trees)

Nonmotile Sperm

Sperm cells that lack the ability to move or swim, which can affect fertilization capabilities.