Touch Tronix, Inc

question 8

Multiple Choice

Touch Tronix, Inc. sells component parts to Advanced Communications, Inc. a cell phone manufacturer. On December 10, 2014, Touch Tronix, Inc. sold €1,020,000 of goods to Advanced Communications, Inc. on account for €1,320,000. Terms of the sale were 2/10, net 30. Advanced Communications, Inc. paid €19,500 in freight charges. On December 13, 2014, Advanced Communications, Inc. returned 5% of the goods due to inferior quality. On December 18, 2014, Advanced Communications, Inc. paid the account in full. Advanced Communications, Inc. uses a perpetual inventory system. If Advanced Communications, Inc. has not yet sold any of these goods, what is the ending balance in the inventory account after the payment is made?

Definitions:

Information Integration

The process by which the brain combines information from various sources, including sensory, cognitive, and emotional inputs, to form a coherent understanding of the environment.

Synaptic Organization

The arrangement and interaction of synapses within the nervous system, which dictates how neurons communicate.

Interoception

The sense of the physiological condition of the body, including hunger, thirst, heartbeat, and pain.

Exteroception

The ability to perceive environmental stimuli from outside the body, such as light, sound, and temperature.