Wichita Industries' sales are 20% cash and 80% on credit. Credit sales are collected as follows: 30% in the month of sale, 50% in the next month, and 20% in the second following month. On December 31, the accounts receivable balance includes $20,000 from November sales and $56,000 from December sales. Assume that total sales for January are budgeted to be $58,000. What are the expected cash receipts for January from the current and past sales? a. $85,520.
b. $73,920.
c. $25,520.
d. $73,520.
e. $69,520.

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Ricardo conducts a survey to learn where consumers get information for buying used cars. this is an example of

Michael works in an it firm that is well known for making innovative products. michael is asked to develop a product that would serve an unmet need. though he has many ideas for it, none of them quite fits the bill. he finally decides to stand back from the problem for a period of time and ceases to consciously think about the yet-to-be-developed product. after a week, as he looks over his notes, he realizes the solution. the period of time in which michael did not consciously work on the problem is referred to as