ABC Co Has an Average Collection Period of 60 Days

question 52

Multiple Choice

ABC Co. has an average collection period of 60 days. Total credit sales for the year were $3,285,000. What is the balance in accounts receivable at year-end?

• A) $ 54,750
• B) $109,500
• C) $540,000
• D) $547,500

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Definitions:

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Phobic Responses

Exaggerated fears triggered by specific objects, situations, or activities, resulting in intense anxiety or avoidance behaviors.

Mowrer

Psychologist O.H. Mowrer, known for his theories on learning and contributions to behavior therapy, especially in the treatment of fears and enuresis.

Obsessive-Compulsive Disorder

A mental disorder characterized by persistent, unwanted thoughts (obsessions) and repetitive behaviors (compulsions).