June Sales Were $5,000 While Projected Sales for July and August

question 64

Multiple Choice

June sales were $5,000 while projected sales for July and August were $6,500 and $7,000, respectively. Sales are 35% cash and 65% credit. All credit sales are collected in the month following the sale. What are the expected collections for July?

• A)$7,975
• B)$5,525
• C)$6,825
• D)$5,975

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