All of Porter Corporation's Sales Are on Account

question 8

Multiple Choice

All of Porter Corporation's sales are on account.Sixty percent of the credit sales are collected in the month of sale,25% in the month following sale,and 10% in the second month following sale.The remainder are uncollectible.The following are budgeted sales data for the company: Cash receipts in April are expected to be:

• A)$420,000
• B)$545,000
• C)$605,000
• D)$185,000

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Definitions:

Hostile Intentions

Feelings or desires to cause harm or express aggression towards others.

Social Information Processing

The way individuals understand and use social information to make judgements and decisions in interpersonal situations, considering the context, social cues, and norms.

Incorrectly Assumed

Believing something to be true without sufficient evidence or despite evidence to the contrary.

Clarify Goals

The process of making one’s objectives or aims clear and specific to better guide actions and decisions.