KAB Incorporated, a Small Retail Store, Had the Following Results

question 76

Multiple Choice

KAB Incorporated, a small retail store, had the following results for May. The budgets for June and July are also given. Sales are collected 80% in the month of the sale and the balance in the month following the sale. (There are no bad debts.) The goods that are sold are purchased in the month prior to sale. Suppliers of the goods are paid in the month following the sale. The "selling and administrative expenses" are paid in the month of the sale.The amount of cash collected during June should be:

• A) $32,000
• B) $40,000
• C) $40,400
• D) $41,000

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Definitions:

Pedophiles

Adults who are sexually attracted to prepubescent children, a condition classified as a psychiatric disorder.

Non-Right Handedness

The characteristic of using the left hand more proficiently than the right hand for daily activities.

Cortical Deficits

Impairments in the function or structure of the brain's cortex, potentially affecting cognitive, sensory, or motor functions.

Chemical Castration

The administration of medication designed to reduce libido and sexual activity, often used as a treatment for sex offenders.