Which of the following is a characteristic of a current liability?

A.It cannot be settled with services.

B.It is an avoidable obligation.

C.It creates a present obligation for future payment of cash or services.

D.It occurs because of a future transaction or event.

Jacob, Inc. had the following balances and transactions during 2019:

Beginning Merchandise Inventory	11 units at $92
March 10	Sold 8 units
June 10	Purchased 33 units at $89
October 30	Sold 27 units

What is the amount of the company's ending Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet, using the periodic weightedaverage inventory costing method? (Round the unit costs to two decimal places and total costs to the nearest dollar.)

A.$89

B.$109

C.$808

D.$326

A & B Commercial Cleaning is a new business. During its first year of operations, credit sales were $44,000 and collections from credit sales were $32,000. One account for $700 was written off. Management uses the percentofsales method to account for bad debts expense and estimates 4% of credit sales to be uncollectible. What is the balance of Accounts Receivable at the end of the first year?

A.$11,300

B.$9,540

C.$10,240

D.$12,000