Fasthound Express Prepared the Following Sales Budget Credit Collections Are 50% in the Month of Sale, 40
Fasthound Express prepared the following sales budget:
Credit collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible.
What is the total cash received in April from April sales?
A) $23,000
B) $35,000
C) $43,000
D) $50,000
Correct Answer:
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