Multiple Choice
Frozen Limited sold $1,750,000 worth of goods during the current year. The cost of goods sold is $1,050,000. Credit sales were $1,575,000, of which 40% were still outstanding. How much cash was collected by Frozen Ltd.?
A) $1,575,000
B) $1,120,000
C) $ 805,000
D) $ 175,000
Correct Answer:
Verified
Correct Answer:
Verified
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