Question
Cringle Company expects sales as follows: January $150,000 February 180,000 March 210,000 April 170,000 Sales are made 30% for cash, and 70% on credit. Credit
Cringle Company expects sales as follows:
January $150,000
February 180,000
March 210,000
April 170,000
Sales are made 30% for cash, and 70% on credit. Credit sales are collected 40% in the month of sale and 60% in the next month. How much are cash collections expected to be in March?
A $138,600
B $255,000
C $197,400
D None of the answer choices are correct
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
