June sales were $40,000 while projected sales for July and August were $50,000 and $60,000, respectively. Sales

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June sales were $40,000 while projected sales for July and August were $50,000 and $60,000, respectively. Sales are 40% cash and 60% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July.

A) $36,000

B) $44,000

C) $50,000

D) $54,000

Related Book For answer-question

Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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Posted Date: Jul 06, 2018 09:28 AM

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June sales were $40,000 while projected sales for July and August were $50,000 and $60,000, respectively. Sales

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Accounting What the Numbers Mean

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