1.

The Seedling Company expects its sales to be $200,000 for the first quarter of 2016. It estimates that sales will increase by 10% each quarter. Based on past experience, it estimates that 60% of each quarter's sales will be on account and 40% will be for cash. Of the amount on account, 75% of which will be collected in that same quarter and 25% of which will be collected in the following quarter. The beginning balance in the Accounts Receivable account is $28,800, which will be collected in the first quarter. The balance in the Accounts Receivable account at the end of the third quarter will be:

Group of answer choices

$30,000

$108,000

$36,300

$42,000

2.

Joint products should be processed after the split-off point only if the difference in expected selling price at the split-off point and after further processing exceeds the per unit cost of processing after the split-off point.

Group of answer choices

True

False

3.

If a company operating at less than full capacity receives a special order request with a price less than total cost, the company should reject the request.

Group of answer choices

True

False