June Sales Were $6,000 While Projected Sales for July and August

question 44

Multiple Choice

June sales were $6,000 while projected sales for July and August were $8,500 and $7,000,respectively.All credit sales are collected in the month following the sale.Sales are 75% credit and 25% cash.What are the total expected collections for July?

• A)$8,375
• B)$7,875
• C)$7,375
• D)$6,625

Explain the role of therapy and medications in treating substance use disorders.

Recognize the societal impact of substance use and related disorders.

Identify drug prevention and management strategies.

Understand the mechanisms of how chronic substance use affects neurotransmitter production in the brain.

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Definitions:

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within a year’s time or within the operating cycle of the business, whichever is longer.

Current Liabilities

Obligations that a company expects to pay within the coming year or its operating cycle, whichever is longer.

Short-Term Creditors

Lenders or suppliers who provide credit with a repayment period that is typically less than one year, often in the form of commercial paper or lines of credit.

Liquidity

A measure of a company's or an individual's ability to meet short-term financial obligations; the ease with which assets can be converted into cash.