As of January 1 of the Current Year,the Grackle Company

question 170

Multiple Choice

As of January 1 of the current year,the Grackle Company had accounts receivables of $50,000.The sales for January,February,and March were as follows: $120,000,$140,000,and $150,000,respectively.Of each month's sales,20% are for cash.Of the remaining 80% (the credit sales) ,60% are collected in the month of sale,with the remaining 40% collected in the following month.What is the total cash collected (both from accounts receivable and for cash sales) in the month of February?

• A) $129,600
• B) $62,400
• C) $133,600
• D) $91,200

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Definitions:

Style of Life

A concept introduced by Alfred Adler, referring to an individual's unique way of achieving superiority and managing lifestyle tasks.

Social Interest

A concept in psychology that refers to an individual's attitude towards and level of engagement with their community and society at large.

Alfred Adler

An Austrian medical doctor and psychotherapist who is best known for his theories on the importance of feelings of inferiority and the development of lifestyle.

Inferiority Complex

A psychological condition where an individual feels a deep sense of incompetence, underachievement, or inadequacy, often leading to overcompensation in other areas.