Question
11. If the actual A/R at the end of February was $12,000 and projected sales in March are $50,000, where 70% of sales are on
11. If the actual A/R at the end of February was $12,000 and projected sales in March are $50,000, where 70% of sales are on credit, 60% of credit sales are collected in the month of the sale, and 40% are collected in the month after the sale, what is the projected A/R balance on the pro forma balance sheet for the end of March? A. $14,000 B. $48,000 C. $20,000 D. $35,000
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Understanding Financial Risk Management
Authors: Angelo Corelli
1st Edition
0415746183, 978-0415746182
