Gourmet Cookware Makes All Sales on Credit with 60% of the Payment

question 39

Multiple Choice

Gourmet Cookware makes all sales on credit with 60% of the payment being received in the month of sale, 30% in the month following sale and the remaining 10% in the subsequent month.
Budgeted sales are as follows
January $100 000
February $140 000
March $120 000
The budgeted balance of debtors at 31 March is:

• A) $48 000.
• B) $62 000.
• C) $74 000.
• D) $120 000.

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Definitions:

Norepinephrine

A neurotransmitter and hormone involved in arousal and stress response, also known as noradrenaline.

Serotonin

A neurotransmitter associated with mood regulation, digestion, sleep, and other important bodily functions.

Acetylcholine

A neurotransmitter involved in many functions including muscle contraction and memory.

Upper Brainstem

The part of the brainstem that is closer to the top part of the brain, involved in basic life functions such as consciousness, breathing, and heart rate.