Fresplanade Co

question 79

Multiple Choice

Fresplanade Co.had the following historical pattern for its credit sales:
75% collected in the month of sale
12% collected in the first month after sale
8% collected in the second month after sale
3% collected in the third month after sale
2% uncollectible
The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below:
July $72,000
August $84,000
September $96,000
October $108,000
November $120,000
December $102,000
The estimated cash collection during September from July,August,and September accounts receivable is:

• A)$83,160.
• B)$79,380.
• C)$87,840.
• D)$54,000.
• E)$71,640.

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Definitions:

Psychological Essentialism

The belief that certain categories, such as biological species or social groups, have an underlying and unobservable essence that defines their identity.

Connectionism

An approach in cognitive science that models mental or behavioral phenomena as the emergent processes of interconnected networks of simple units.

Exemplar View

A perspective in psychology that suggests the classification or recognition of objects occurs by comparing them to a collection of specific examples or instances stored in memory.

Prototype View

A theory in cognitive science suggesting that mental categorization is based on the best or most typical example of a category.