June sales were $27,000,while projected sales for July and August were $51,000 and $69,000,respectively.Sales are 60% cash and 40% credit.All credit sales are collected in the month following the sale.Calculate expected collections for July.
A) $36,600
B) $41,400
C) $10,800
D) $30,600

Question

Quizplus · Accepted Answer

Calculation of expected collections for the month of July:
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June Sales Were $27,000,while Projected Sales for July and August