Harry & Sons Makes All of Its Purchases on Credit;

question 53

Multiple Choice

Harry & Sons makes all of its purchases on credit; 50% are paid in the month of purchase; 30% during the month following the purchase and 20% in the second month following the purchase. Given the following data, determine the cash paid to creditors during June.
April May June
Credit Purchases $50 000 $80 000 $60 000

• A) $30 000
• B) $64 000
• C) $54 000
• D) $60 000

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Definitions:

Animal Evolution

The gradual development of diverse species of animals over geological time from common ancestors through changes in traits and genetics.

Blastopore

The initial opening that develops during early embryonic development in animals, leading to the formation of the digestive tract.

Deuterostomes

A grouping of animals characterized by their embryonic development; during the formation of the mouth and anus, the anus forms before the mouth.

Protostomes

A group of animals within the animal kingdom that develop the mouth before the anus during embryonic development, as part of the blastopore’s fate.