Use the Following Information for the Next 2 Questions

question 13

Multiple Choice

Use the following information for the next 2 questions.
Bynsel, Inc., a retailer, projects the following purchases and sales of its product for the next 4 months: Each unit costs $100, and all purchases are on account. Two-thirds of purchases are paid in the month of the purchase and one-third are paid in the month following the purchase. Bynsel gets a 3% discount whenever it pays in the month of the purchase. The selling price per unit is $200. Sales are 60% cash and 40% on customer credit cards. The bank charges Bynsel a 5% fee for each credit card transaction and transfers the funds to Bynsel's checking account on the same day as the credit card sale.
-What are cash receipts for the third month?

• A) $78,400
• B) $58,800
• C) $124,000
• D) $76,000

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Definitions:

Sue

To initiate legal proceedings against an individual or entity in order to seek redress or enforce a right.

Uncertainty

A state or condition where outcomes, consequences, or future events are unpredictable or unknown.

Purchase

The act of acquiring goods or services in exchange for money or other valuable consideration.

Old Model

Refers to a product, system, or item that has been replaced or surpassed by newer versions or models.