Multiple Choice
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. What are the expected collections for July?
A) $36,000
B) $44,000
C) $50,000
D) $54,000
Correct Answer:
Verified
Correct Answer:
Verified
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