John Company Has the Following Sales Budget Collections of Credit Sales Are 50% in the Month of }&\text

question 114

Multiple Choice

John Company has the following sales budget:
$\begin{array}{lll}\text { Month }&\text { Cash Sales }&\text { Credit Sales }\\\text { September } & \$ 100,000 & \$ 200,000 \\\text { October } & 125,000 & 180,000 \\\text { November } & 130,000 & 210,000 \\\text { December } & 135,000 & 190,000\end{array}$
Collections of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What is the expected balance in Accounts Receivable at December 31?

• A) $95,000
• B) $116,000
• C) $190,000
• D) $210,000

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Definitions:

Majority

The greater part or more than half of a total number, often used in the context of elections, decisions, or opinion trends within a group.

Political Action Committees

Organizations that collect funds from members or donors and contribute them to campaign funds of candidates or political parties they support, often influencing political outcomes.

Citizen Involvement

The participation and engagement of ordinary citizens in governmental or civic activities, decision making, and policy setting.

Primary System

The process by which political parties in the United States select their candidates for election to public office, typically through votes by registered party members.