Use the Following Information to Answer the Following Questions

question 9

Multiple Choice

Use the following information to answer the following Questions
Morgan Company's budgeted income statement reflects the following amounts:

Sales are collected 50% in the month of sale, 30% in the month following sale, and 19% in the second month following sale. One percent of sales is uncollectible and expensed at the end of the year.
Morgan pays for all purchases in the month following purchase and takes advantage of a 3% discount. The following balances are as of January 1:

*Of this balance, $35,000 will be collected in January and the remaining amount will be collected in February.
The monthly expense figures include $5,000 of depreciation. The expenses are paid in the month incurred


-Morgan's budgeted cash receipts in February are:

• A) $91,000.
• B) $95,000.
• C) $113,090.
• D) $113,640.
• E) $114,000.

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Definitions:

Assigned Responsibilities

Tasks specifically allocated to individuals or teams within an organization as part of their roles.

Gay Identities

Describes the self-identification of individuals whose sexual or romantic attractions are primarily towards people of the same sex, often forming part of broader LGBTQ+ communities.

Black Identities

The various ways in which Black individuals and communities understand, express, and navigate their cultural, historical, and social identities.

Sexual Minorities

Groups of individuals whose sexual orientation, gender identity, or sexual practices differ from the majority of the surrounding society, often including LGBTQ+ communities.