Dove Corporation Began Its Operations on September 1 of the Current

question 58

Multiple Choice

Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 30% in the month following the sale. The cash collections in November are:

• A) $317,750
• B) $389,750
• C) $490,000
• D) $410,000

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Definitions:

Blood

A vital fluid in humans and other animals that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away.

Clotting Factors

Proteins in the blood that work together to form a blood clot, stopping bleeding and aiding in wound healing.

Phlebotomy

The practice of drawing blood from patients for testing, transfusions, research, or donation.

Platelets

Small blood cells that play a crucial role in blood clotting and wound healing processes.