Answer the Following Question(s)using the Information Below

question 110

Multiple Choice

Answer the following question(s) using the information below.
Fiscal Company has the following sales budget for the last six months of 2013:
Historically,the cash collection of sales has been as follows:
65% of sales collected in the month of sale,
25% of sales collected in the month following the sale,
8% of sales collected in the second month following the sale,and
2% of sales are uncollectible.
-What is the ending balance of accounts receivable for September,assuming uncollectible balances are written off during the second month following the sale?

• A)$99,500
• B)$48,500
• C)$44,900
• D)$46,500
• E)$54,500

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Definitions:

U.S. Dollar-Denominated Returns

The gains or losses on an investment reported in U.S. dollars, regardless of the currency of the initial investment.

Currency Selection Return

Currency Selection Return refers to the gains or losses resulting from the active management decision of choosing to invest in currencies expected to appreciate relative to others.

Cross Border Fund

An investment fund that has the capability to invest in financial assets across different countries.

Benchmark

A standard or point of reference against which things may be compared or assessed, particularly in the financial markets to measure the performance of stocks or funds.