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Kyla Co. prepared an aging of its accounts receivable at December 31, 2020 and determined that the net realizable value of the receivables was $580,000. Additional information for calendar 2020 follows:

Allowance for doubtful accounts, Jan 1	$68,000 (cr.)
Uncollectible account written off during year	46,000
Bad debt expense for 2020	28,000
Uncollectible accounts recovered during year	10,000

At the year end December 31, 2020, Kyla Co.s Accounts receivable balance should be

	1) $640,000.00
	2) $658,000.00
	3) $644,000.00
	4) $652,000.00

Consider an asset for which the following information is available:

Original cost	$48,000
Residual value	$5,000
Estimated useful life	5 years
Depreciation method	Double-declining balance method

The depreciation expense for the last year of this asset's useful life is

	1) $2,229.00
	2) $573.00
	3) $2,488.00
	4) $1,221.00

Kayden Ltd. had a current ratio of 4.24 in 2019 and 5.64 in 2020. Which of the following is the best explanation?

	1) A decrease in current liabilities.
	2) An increase in cash and equivalents and short-term investments.
	3) A decrease in long-term liabilities.
	4) An increase in current assets that exceeded the increase in current liabilities.

Annie Sweet Corporation is specialized in making wedding cakes. Customers are always required to pay a deposit equal to the full purchase price when they place orders. During the month of September 2019, Annie Sweet Corporation received $34,000 in customer deposits. The balance in its Unearned Revenue account was $14,000 at September 1, 2019 and $16,000 at September 30, 2019. How much revenue did Annie Sweet Corporation recognize during the month of September 2019?

	1) $34,000
	2) $30,000
	3) $32,000
	4) $36,000

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