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:

Nausea

A sensation of unease and discomfort in the upper stomach with an involuntary urge to vomit.

Weight Gain

refers to an increase in body weight, which can result from various factors including increased muscle mass, fat deposits, or fluid retention.

Insulin

A hormone produced by the pancreas that regulates blood glucose levels by promoting the uptake of glucose into cells.

Stored Fat

Body fat that is accumulated and stored within the body, serving as an energy reserve.