D & F expects credit sales of $980,$1,460,$1,730 and $950 for the months of April through July,respectively.The firm collects 25 percent of sales in the month of sale,65 percent of sales in the month following the month of sale,and 8 percent in the second month following the month of sale.The remaining sales are never collected.How much money does the firm expect to collect in the month of July?
A) $1,645.50
B) $1,478.80
C) $1,571.10
D) $1,374.20
E) $1,475.50
Correct Answer:
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