-Refer to Miso Company

question 22

Multiple Choice

$$\begin{array} { l l } \text { May } & \$ 100,000 \\\text { June } & \$ 120,000 \\\text { July } & \$ 130,000 \\\text { August (expected) } & \$ 150,000\end{array}$$
-Refer to Miso Company. What dollar value of May's sales is expected to be uncollectible?

• A) $0
• B) $1,800
• C) $2,000
• D) $7,200

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Definitions:

Anticipatory Repudiation

A declaration or action by a party indicating they will not fulfill their contractual obligations, allowing the other party to seek remedies.

Expressly Notifies

To inform or declare something in a direct and explicit manner.

Conforming Goods

Items that meet the specifications and standards set forth in a purchase contract.

Contract Terms

The specific conditions and clauses outlined in a contract that dictate the obligations, rights, and duties of the parties involved.