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D & F,Inc Expects Sales of $620,$650,$730 and $780 for the Months

Question 22

Multiple Choice

D & F,Inc. expects sales of $620,$650,$730 and $780 for the months of April through July,respectively. The firm collects 20% of sales in the month of sale,50% in the month following the month of sale and 28% in the second month following the month of sale. The remaining 2% of sales is never collected. How much money does the firm expect to collect in the month of July?


A) $645
B) $703
C) $711
D) $742
E) $755

Correct Answer:

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