Kantorovich Company Normally Takes 30 Days to Pay for Its

question 95

Multiple Choice

Kantorovich Company normally takes 30 days to pay for its average daily credit purchases of $2,000. Its average daily sales are $3,000, and it collects accounts in 25 days. What is its net credit position?

• A)$15,000
• B)$1,000
• C)($1,000)
• D)($15,000)

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Definitions:

Phenothiazines

A class of antipsychotic drugs used to treat mental disorders such as schizophrenia by blocking dopamine receptors in the brain.

Schizophrenia

A mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Selective Serotonin Reuptake Inhibitors

A class of drugs commonly prescribed for depression and anxiety disorders that work by increasing serotonin levels in the brain.

Depression

A rephrased definition of Major Depression; it refers to a mood disorder featuring persistent feelings of sadness and loss of interest, impacting daily functioning.