A Firm Has Forecasted Sales of $4,500 in April, $3,000

question 40

Multiple Choice

A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All sales are on credit. 30% is collected in the month of the sale, and the remainder in the following month. What will be the balance in accounts receivable at the end of June?

• A) $1,950
• B) $6,500
• C) $4,550
• D) $3,500

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Definitions:

Demote

The action of reducing someone's rank or position, usually as a disciplinary measure or organizational restructuring.

Lower-level Position

A job role that typically requires less experience and responsibility within the organizational hierarchy.

Different Skills

A variety of abilities and competencies required to perform various tasks or jobs effectively.

Median

The central figure within a dataset once all values have been ordered from lowest to highest or vice versa.