Falcons Company Expects a Total of $10,000 in Sales in May

question 58

Multiple Choice

Falcons Company expects a total of $10,000 in sales in May Of these, $4,000 sales are expected to be for cash.Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale.The remaining 5% is expected to be uncollectible.____ is the estimated cash collection in May from May sales.

• A)$4,000
• B)$10,000
• C)$7,000
• D)$5,000

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Definitions:

Hypnosis

A state of focused attention, enhanced suggestibility, and vivid fantasies, often used therapeutically to reduce stress and pain.

Psychotherapy

A general term for treating mental health problems by talking with a psychiatrist, psychologist, or other mental health provider.

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