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ACME Inc,Bills Its Clients on the First of the Month

Question 37

Multiple Choice

ACME Inc.,bills its clients on the first of the month.For example,any sale made in the month of July is billed August 1 and is due September 1.Clients traditionally pay as follows: 70% by the end of the first month August) ,20% by the end of the second month (September) ,9% by the end of the third month (October) ,and 1% default on their bills.What is the dollar value of January billings collected in April?  First-Quarter Actual Sales  Second-Quarter Anticipated Sales  January  February  March  April  May  June $88,000$74,000$96,000$99,000$82,000$63,000\begin{array} { | l | l | l | l | l | l | } \hline & { \text { First-Quarter Actual Sales } } & && { \text { Second-Quarter Anticipated Sales } } \\\hline \text { January } & \text { February } & \text { March } & \text { April } & \text { May } & \text { June } \\\hline \$ 88,000 & \$ 74,000 & \$ 96,000 & \$ 99,000 & \$ 82,000 & \$ 63,000 \\\hline\end{array}


A) $7,040
B) $7,920
C) $3,920
D) $0.00

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