What was the percentage of decrease in the Accounts Receivable account if the receivables were $80,000 in Year 1,and $60,000 in Year 2?
A)(25%)
B)33.33%
C)(33.33%)
D)25%

Question

Quizplus · Accepted Answer

The percentage of decrease is calculated as follows:Percentage of decrease = (Original amount - New amount) / Original amount * 100= (80,000 - 60,000) / 80,000 * 100= 20,000 / 80,000 * 100= 0.25 * 100= 25%

What Was the Percentage of Decrease in the Accounts Receivable