Use the Following Information for Questions

question 31

Multiple Choice

Use the following information for questions.
Geary Co.assigned $400,000 of accounts receivable to Kwik Finance Co.as security for a loan of $335,000.Kwik charged a 2% commission on the amount of the loan; the interest rate on the note was 10%.During the first month, Geary collected $110,000 on assigned accounts after deducting $380 of discounts.Geary accepted returns worth $1,350 and wrote off assigned accounts totaling $2,980.
-The amount of cash Geary received from Kwik at the time of the transfer was

• A)$301,500.
• B)$327,000.
• C)$328,300.
• D)$335,000.

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Definitions:

Laboratory Investigations

Controlled experiments conducted in a lab setting to study psychological phenomena under controlled conditions.

Hormones

Chemical messengers produced by the endocrine glands that regulate various bodily functions and processes.

Testes

The male reproductive organs that produce sperm and hormones, including testosterone.

Sexual Response

The physiological and emotional reactions of an individual to sexual arousal, typically described in phases such as desire, arousal, orgasm, and resolution.