The Following Information Relates to the Fowler Company for 2010

question 54

Multiple Choice

The following information relates to the Fowler Company for 2010: $\begin{array}{ll}\text { Sales discounts } & \$ 700 \\\text { Beginning accounts receivable } & 5,000 \\\text { Collections on accounts receivable } & 20,000 \\\text { Total sales seported on income statement } & 82,500 \\\text { Ending accountsreceivable } & 7,000\end{array}$ What was the amount of cash sales?

• A)$61, 200
• B)$59, 800
• C)$63, 800
• D)$65, 200

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Definitions:

Late Majority

A category of individuals in the diffusion of innovation theory who adopt new ideas, practices, or products after the average member of a society.

Adoption

The act or process of taking something on as one's own, such as ideas, methods, or practices.

Self-Efficacy

An individual's belief in their innate ability to achieve goals or accomplish tasks, which can influence how they approach challenges and persistence.

Suggested Action

A recommended course of action derived from analysis or insights.