Solved

From the Following Data Calculate the Estimated Cash Received from Total

Question 14

Multiple Choice

From the following data calculate the estimated cash received from total sales for the month of June.
Total sales for April,$42 000; May,$54 000; June,$38 000.
Credit sales are normally settled in the pattern: 50% in the month of sale,40% in the first month following the sale,and the balance in the second month following the sale.


A) $44 800
B) $25 800
C) $19 000
D) $40 600

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions