June Sales Were $5,000 While Projected Sales for July and August

question 221

Multiple Choice

June sales were $5,000 while projected sales for July and August were $6,500 and $7,000, respectively. Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. What are the expected collections for July?

• A) $6,050
• B) $7,550
• C) $6,850
• D) $5,450

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Definitions:

Flux

Flux, in the context of electromagnetism, refers to the rate of flow of a property per unit area, such as the magnetic field lines per unit area in a magnetic circuit.

Induction Motor

An induction motor is a type of asynchronous electric motor where power is supplied to the rotor by electromagnetic induction, rather than direct electrical connection.

Line-voltage

The voltage level provided by the electrical utility company, typically present in power lines.

Reverse Direction

Moving in the opposite direction to the usual or expected way.