Zephyr Sewing Machine Company Makes Many of Its Sales on Account.For

question 47

Essay

Zephyr Sewing Machine Company makes many of its sales on account.For 2012,its beginning balance in Accounts Receivable was $91,000.Sales on account for the year were $412,000,and the amount of cash collected from its accounts receivable was $394,950.During the year,uncollectible accounts of $4,050 were written off.What was the ending balance in Accounts Receivable?

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Definitions:

Consideration

In contract law, this refers to something of value that is exchanged between parties as part of an agreement.

Capacity

Capacity refers to the maximum amount of work that an organization is capable of completing in a given period, often determined by the limits of available resources, such as manpower, machinery, or physical space.

Patent Search

A thorough investigation conducted to check if an invention or idea has already been patented by someone else.

Existing Patents

Refers to patents that have already been granted by the patent office, protecting previous inventions or discoveries.