Question

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%

Answer 1

D

Answer 2

60,000/80,000
That equation, once changed to a percent, represents the percent of Year 2 compared to Year 1. Then find the difference between that percent and 100%. Multiply that value by -1 and you have your answer.

Answer 3

I still dont understand?

Answer 4

60,000/80,000 is 1.3 ??

Answer 5

Are you sure?