San Francisco Company Expects August Sales to Be $32,000

question 124

Multiple Choice

San Francisco Company expects August sales to be $32,000.Approximately 40% of sales are cash sales.Collection of credit sales are 50% in the month of sale,40% in the month following sale and 5% two months following sale.The remaining 5% is uncollectible.________ is the expected cash collection in August from August sales.

• A)$8,000
• B)$12,000
• C)$16,000
• D)$22,400

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