Crocetti Corporation Makes One Product and Has Provided the Following

question 24

Multiple Choice

Crocetti Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations:
Credit sales are collected:
40% in the month of the sale
60% in the following month
The budgeted accounts receivable balance at the end of February is closest to:

• A) $544,500
• B) $907,500
• C) $605,000
• D) $363,000

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Definitions:

Voluntarily Came

The act of choosing to arrive or participate in something out of one's own free will without coercion.

Displacing Indians

The process of forcibly removing Native American tribes from their ancestral lands, often to make way for European settlers and the expansion of the United States.

Settling on Land

The act of occupying and establishing control over a new area of land, often involving the displacement of existing populations.

European Power

Refers to countries in Europe that hold significant global influence and military, economic, or diplomatic strength, historically and in contemporary times.