Lara Company Has Budgeted the Following Credit Sales During the Current

question 65

Multiple Choice

Lara Company has budgeted the following credit sales during the current year: September,$25,000; October,$36,000; November,$30,000; December,$32,000.Experience has shown that payment for the credit sales is received as follows: 15% in the month of sale,60% in the first month after sale,20% in the second month after sale,and 5% is uncollectible.How much cash can Lara Company expect to collect in November as a result of current and past credit sales?

• A) $19,700
• B) $28,500
• C) $30,000
• D) $31,100
• E) $33,900

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Definitions:

Path-Goal Theory

A leadership theory that emphasizes the leader's role in clarifying paths to goals and removing obstacles to performance.

Leadership Style

The characteristic methods and behaviors adopted by leaders to influence and guide the actions of their followers or organization.

Team Members

Individuals who belong to a group working towards a common goal, sharing responsibilities, tasks, and supporting each other in achieving the team's objectives.

Evidence-Based Leadership

A leadership approach that involves making decisions and taking actions based on the best available evidence, along with critical thinking and expertise.