HM Industries Has a Beginning Receivables Balance on January 1^st

question 62

Multiple Choice

HM Industries has a beginning receivables balance on January 1^st of $420.Sales for January through April are $340,$250,$330,and $240,respectively.The accounts receivable period is 60 days.How much did the firm collect in the month of April? Assume a 360 day year.

• A)$240
• B)$250
• C)$330
• D)$290
• E)$340

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Definitions:

Closure

The psychological need to see an activity or task through to completion, or the sense of resolution or conclusion at the end of an emotional or narrative arc.

Figure-ground Principle

A perceptual grouping principle in which the mind differentiates an object (the figure) from its surrounding area (the ground).

Foreground-background

A concept in visual perception where the focus is on distinguishing the main subject (foreground) from the surrounding environment or background.

Perceptual Apathy

A lack of interest or concern regarding perception, leading to indifference to sensory experiences or stimuli.