June Sales Were $40,000 While Projected Sales for July and August

question 18

Multiple Choice

June sales were $40,000 while projected sales for July and August were $50,000 and $60,000, respectively. Sales are 40% cash and 60% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July.

• A)$36,000
• B)$44,000
• C)$50,000
• D)$54,000

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Definitions:

Reflex

An involuntary and nearly instantaneous movement in response to a stimulus, without conscious thought or deliberation.

Obtain Food

The process of acquiring foodstuffs for consumption, through various means like purchasing, farming, or hunting.

Grasping Reflex

An involuntary movement or response wherein an infant closes their fingers around an object placed in their hand.

Moro Reflex

An involuntary reflex found in infants, where they spread their arms and then unspread them in response to feeling unsupported or startled.