Gaulle Company Began the Year with a Balance of $6,000

question 58

Multiple Choice

Gaulle Company began the year with a balance of $6,000 in Accounts Receivable and ended the year with $9,000 in the account.Revenues for the period amounted to $38,000.Under the direct method,Gaulle will report cash collected from customers of

• A)$44,000.
• B)$35,000.
• C)$41,000.
• D)$47,000.

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Definitions:

Actual Notice

The direct and explicit knowledge given to a person about a specific piece of information, ensuring they are aware of it.

Constructive Notice

Legal notice presumed by law to have been acquired by a person and thus binding on that person, regardless of actual knowledge of the notice.

Subagent

An agent appointed by another agent with the original principal's authorization, typically to help perform some duty or function.

Apparent Authority

The appearance or assumption of authority based on the actions or representations of the principal.