June sales were $5,000 while projected sales for July and August were $6,500 and $7,000,respectively.Sales are 30% cash and 70% credit.All credit sales are collected in the month following the sale.What are the expected collections for July?

Question

Quizplus · Accepted Answer

The Answer of  June sales were $5,000 while projected sales for July and August were $6,500 and $7,000,respectively.Sales are 30% cash and 70% credit.All credit sales are collected in the month following the sale.What are the expected collections for July?

June Sales Were $5,000 While Projected Sales for July and August