Dokos Has a Beginning Receivables Balance on January 1st of £560.Sales

question 44

Multiple Choice

Dokos has a beginning receivables balance on January 1st of £560.Sales for January through to April are £620, £680, £570 and £550, respectively.The trade receivables period is 30 days.How
Much did the firm collect in the month of March? Assume that a year has 360 days.

• A)£550
• B)£570
• C)£620
• D)£625
• E)£680

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Definitions:

Simplify

The process of reducing an expression to its simplest form.

Average Cost

The total cost of production divided by the number of goods produced.

Setup Cost

The initial expense required to create a new product or establish a new process, including costs for equipment, facilities, and labor.

Multiply

The mathematical operation of increasing a number by another specified number of times, essentially repeated addition.