On January 1, 2014, the Accounts Receivable and the Allowance

question 144

Multiple Choice

On January 1, 2014, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550 respectively.During the year, the company reported $70,000 of credit sales.There were $400 of receivables written off as uncollectible in 2014.Cash collections of receivables amounted to $74,700.The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance.
The net realizable value of receivables appearing on the 2014 balance sheet will amount to:

• A)$14,105
• B)$14,155
• C)$14,900
• D)$15,450

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Definitions:

Racial Categories

Classification systems used to group people based on perceived or actual shared physical characteristics and ancestry.

Heterosexuality

The sexual attraction or sexual behavior between individuals of the opposite sex.

Implicit Assumption

An implicit assumption is an unstated belief or understanding that underlies and influences thoughts, actions, and decisions without being directly expressed or acknowledged.

Overt Racism

Blatant and openly exhibited racial prejudice and discrimination.