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/A ta Mountain Company ny has the folowing information the unts Receivable, January 1, 2017 200,000 ts Receivable, December 31, 2017 400,000 redit Sales Cash Sales Write-offs of uncollectible accounts 800,000 10,000 What are the total collections from customers during 20172 A) $1,590,000 B) $1,600,000 $2,590,000 D) $2,600,000 sailboat company signed a 8-month, S40,000, 5% note on August 1, 2017. The amount of interest to be accrued on December 31, 2017, is (round to nearest dollar): $833. 8)S1,333. C) 51,867 D) $2,000. 40,000x.05/2 200o x 1,333 12) The cost of the inventory that the business has sold to customers is called: A) inventory Bost of goods sold C) purchases. D) gross profit. The cost of inventory that is still on hand and has not been sold to customers is called A) cost of goods sold, an expense that appears on the balance sheet. Dinventory, a current asset that appears on the income statement. nventory, a current asset that appears on the balance sheet. D) purchases, an expense that appears on the income statement