Here Are Some Important Figures from the Budget of Wexter

question 39

Multiple Choice

Here are some important figures from the budget of Wexter Enterprises for the second quarter of 2013: The company predicts that 2 percent of its credit sales will never be collected,45 percent of its sales will be collected in the month of sale,and the remaining 53 percent will be collected in the following month.Credit purchases will be paid in the month following the purchase.
In March 2013,credit sales were $387,000 and credit purchases were $279,500.What is the ending cash balance for April if the beginning cash balance was $97,500?

• A)$87,410
• B)$90,060
• C)$92,800
• D)$94,440
• E)$97,230

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Definitions:

Digital Currencies

Electronic money that exists in a digital form, enabling instant transactions and borderless transfer-of-ownership.

Valueless

Lacking in value, importance, or utility; having no worth or significance.

Constant Value

A value that remains unchanged over a period of time, despite external factors or conditions that might otherwise cause variation.

Cryptocurrencies

Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate independently of a central authority, enabling secure, anonymous transactions.