The Ending Balance of Accounts Receivable Was $69,000

question 75

Multiple Choice

The ending balance of accounts receivable was $69,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $354,000. Sales reported on the income statement were $378,000. Based on this information, the beginning balance in accounts receivable was:

• A) $93,000
• B) $24,000
• C) $94,000
• D) $45,000

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Definitions:

Snellen Chart

A chart used to measure visual acuity, featuring lines of letters in decreasing size, which the patient reads from a set distance.

Optometrist

A healthcare professional specializing in the examination of the eyes and visual systems for defects or abnormalities, prescribing corrective lenses or eye exercises.

Eyelid Margins

The edges of the eyelids where the eyelashes grow; important in eye health and function.