June Sales Were $1000 While Projected Sales for July and August

question 106

Multiple Choice

June sales were $1000 while projected sales for July and August were $8400 and $2000, respectively. All credit sales are collected in the month following the sale. Sales are 60% credit and 40% cash. What are the total expected collections for July?

• A)$4760
• B)$5440
• C)$4560
• D)$3960

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Definitions:

Personal Property

Items owned by an individual that are moveable and not permanently attached to or part of real estate.

Hudson v. Palmer

A 1984 U.S. Supreme Court case ruling that prison officials have the authority to search cells and confiscate any materials found, without violating the Fourth Amendment.

Ethical Standards

The principles and codes of conduct that govern the behavior of individuals and organizations in various professions and situations.

Modern Era

A period in history marked by significant changes in society, technology, and culture, broadly considered to start from the late 19th century to the present.