Question
The Bing Company has predicted sales for the first three quarters of 2019.The predictions are: first quarter, $250,000; second quarter, $200,000; third quarter, $300,000. 80%
The Bing Company has predicted sales for the first three quarters of 2019.The predictions are: first quarter, $250,000; second quarter, $200,000; third quarter, $300,000. 80% of sales are collected in the quarter of sale, and 20% of sales are collected in the following quarter. The company's expected cash receipts for the third quarter of 2019 are?
a)21000
b)280000
c)340000
d)370000
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Financial And Managerial Accounting
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
16th Edition
0357714040, 9780357714041
