As of January 1 of the Current Year, Grackle Company

question 52

Multiple Choice

As of January 1 of the current year, Grackle Company had accounts receivable of $50,000. The sales for January, February, and March were $120,000, $140,000, and $150,000, respectively. Of each month's sales, 20% are for cash. Of the remaining 80% (the credit sales) , 60% are collected in the month of sale, with the remaining 40% collected in the following month. The total cash collected (both from accounts receivable and cash sales) in the month of February is

• A)$129,600
• B)$62,400
• C)$133,600
• D)$91,200

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Definitions:

Vulnerability

The condition of being susceptible to potential harm or attack, whether it involves physical or emotional injury.

PTSD

Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a traumatic event, characterized by flashbacks, nightmares, and severe anxiety.

Traffic Accidents

Unplanned events on the roadways that result in damage or injury, often involving one or more vehicles.

Normal Functioning

A state or condition of operating or performing within the expected or established range of typical human ability or behavior.