Paste BI U rab x x Al Al Paragraph Styles Sensitivity This page is intentionally left blank Part 1 - Multiple Choice: (30 points) Read each question carefully and select the best answer from the choices provided. Record your answers to the multiple choice on the cover sheet 1. Accountants R Us Inc. had the following information taken from various accounts at the end of the year: Sales discounts $35,000 Deferred revenues 24,000 Sales Revenue 480,000 Accounts receivable 215,000 Utilities expense 25,000 Depreciation expense 45,000 Cost of goods sold 180,000 What was Accountants R Us' Net Income for the year? A. $195,000 B. $235,000 C. $258,000 D. $270,000 2. Which of the following best describe accounts receivable: of aneh award hy a company to its venders for purchases