As of January 1 of the Current Year, the Grackle $$74,000
B) $110,000
C) $71,600
D) $131,600

question 118

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 of 2012 were as follows: $120,000, $140,000 and $150,000. 20% of each month's sales are for cash. Of the remaining 80% (the credit sales) , 60% are collected in the month of sale, with 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 January?

• A) $$74,000
• B) $110,000
• C) $71,600
• D) $131,600

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Definitions:

Relatively Permanent

Describes the enduring nature of changes in behavior or abilities due to learning or development, indicating that such changes are not easily reversible.

Muscle Memory

The ability of the body to perform a movement or series of movements with improved efficiency and accuracy after repeated practice, due to neurological and muscular adaptation.

Adaptation

The process by which organisms adjust to changes in their environment or internal processes to maintain homeostasis.

Reflex Response

is an automatic, involuntary reaction to a stimulus that does not involve a conscious decision to act.