Multiple Choice
Ningbo shipping has projected sales in May, June, and July of $500, $600, and $700, respectively. It makes 20 percent of sales for cash and collects the balance one month following the sale. Ningbo Shipping's total cash receipts in July are
A) $620
B) $520
C) $680
D) $1,100
Correct Answer:
Verified
Correct Answer:
Verified
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