The LaGrange Corporation Had the Following Budgeted Sales for the First

question 139

Multiple Choice

The LaGrange Corporation had the following budgeted sales for the first half of the current year: The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:
Collections on sales:
60% in month of sale
30% in month following sale
10% in second month following sale
The accounts receivable balance on January 1 of the current year was $70,000, of which $50,000 represents uncollected December sales and $20,000 represents uncollected November sales.
The total cash collected during January by LaGrange Corporation would be:

• A) $410,000
• B) $254,000
• C) $344,000
• D) $331,500

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Definitions:

Empathy Levels

The capacity to understand or feel what another person is experiencing from within their frame of reference—that is, the capability to place oneself in another's position.

Altruistic Helping

Assistance given to others purely out of a desire to benefit them, without any expectation of reward or return.

Altruistically Motivated

Being driven to act out of a desire to help others without expecting any personal gain, showcasing selfless behavior towards the welfare of others.

Audience Inhibition

Failure to help in front of others for fear of feeling like a fool if one’s offer of help is rejected