Given an accounts receivable balance on the balance sheet of $250,500, and a previous years balance of

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Given an accounts receivable balance on the balance sheet of $250,500, and a previous year’s balance of $275,000 for this same account, what is the dollar amount of the variance?

a. ($ 24,500)

b. ($ 226,000)

c. $ 24,500

d. $ 226,000

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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