The Following Credit Sales Are Budgeted by Milford Company

question 184

Multiple Choice

The following credit sales are budgeted by Milford Company: The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of August is

• A) $648,060.
• B) $588,000.
• C) $630,000.
• D) $617,400.

---

Definitions:

Concrete Operations

A stage in cognitive development where children are able to think logically about concrete events, understanding the concepts of conservation, time, and space.

Body Mass

A measurement of a person's weight in relation to their height, commonly used to assess if they are underweight, normal weight, overweight, or obese.

Caloric Intake

The total number of calories consumed through food and beverages over a period, crucial for maintaining energy balance and bodily functions.

Future Obesity

The prospective risk or likelihood of becoming obese based on current health trends, behaviors, and genetic factors.