If a firm had credit sales of $1,250,000 for March and collected its sales 30% in the month of sale and 70% in the month following the sale,how much of March sales would be collected in cash in March?

Question

Quizplus · Accepted Answer

According to the question, 30% of the credit sales would be collected in March, which is $1,250,000 x 30% = $375,000. Therefore, B is the correct answer.

If a Firm Had Credit Sales of $1,250,000 for March