What is the amount of cash to be collected in the month of July?

Name: What is the amount of cash to be collected in the month of July?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cash to be collected in July is equal to the total sales for July minus the total credit sales for July plus the total outstanding balance from June. 
Total sales for July: $45,000
Total credit sales for July: $7,500
Total outstanding balance from June: $20,522
$45,000 - $7,500 + $20,522 = $38,022. Therefore, the correct answer is (B).

What Is the Amount of Cash to Be Collected in the Month