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:

Tremors

Involuntary, rhythmic muscle movements involving to-and-fro movements of one or more parts of the body, often affecting the hands, arms, head, or voice.

Lewy Bodies

Abnormal aggregates of protein that develop inside nerve cells, associated with Parkinson's disease and dementia.

Parkinson's Disease

A long-term degenerative disorder of the central nervous system that mainly affects the motor system, leading to symptoms such as tremors, rigidity, and bradykinesia.

Alzheimer's Disease

A progressive neurodegenerative disorder characterized by cognitive decline, including memory loss and difficulty with thinking, problem-solving, and language.