Lee's Appliances Forecasts the Following Sales Figures for the Next

question 79

Multiple Choice

Lee's Appliances forecasts the following sales figures for the next four months.
Cash sales average 10 per cent of total sales and credit sales are collected 50 per cent in the month of sale and 50 per cent in the month following sale. What are the estimated cash collections in May?

• A) $215 000
• B) $207 500
• C) $195 000
• D) $82 500

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