A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm’s total cash receipts in July
A. are $220.
B. are $200.
C. are $180.
D. cannot be determined with the information provided.
Answer:A
A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm’s total cash receipts in July
A. are $220. B. are $200. C. are $180. D. cannot be determined with the information provided.