$ 40,000. $ 13,000. $ 5,000. $ 8,000. 13- Multiple Choice Question 118
If a retailer regularly sells its receivables to a factor, the service charge of the factor should be classified as a( n)
contra asset. other expense. selling expense. interest expense. 14- Multiple Choice Question 104
During 2013, Alfred Inc. had sales on account of $ 132,000, cash sales of $ 54,000, and collections on account of $ 84,000. In addition, they collected $ 1,450 which had been written off as uncollectible in 2012. As a result of these transactions, the change in the accounts receivable balance indicates a
$ 102,000 increase. $ 100,550 increase. $ 46,550 increase.