Question
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,
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 amount of cash is collected during march?
Multiple choice
A. $48,000
B. $35,000
C. $36,000
D. $14,000
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Restaurant Financial Management
Authors: Hyung-il Jung
1st Edition
1774631431, 978-1774631430
