Schoof Inc

question 50

Multiple Choice

Schoof Inc.expects to have sales of $30,000 in January,$35,000 in February,and $40,000 in March.If 20% of sales are for cash,40% are credit sales paid in the month following the sale,and another 40% are credit sales paid 2 months following the sale,what are the cash receipts for the firm in March?

• A)$29,151
• B)$30,685
• C)$32,300
• D)$34,000

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Definitions:

Monotheistic

A term describing religions that worship a single divine figure.

Divine Figure

A supreme being or deity revered in various religions and spiritual traditions, often attributed with the creation and governance of the universe.

Secular

Nonreligious; a secular society separates church and state and does not endorse any religion.

Secular Society

A society where religious beliefs and institutions do not have a dominant influence on public life and governance.