Multiple Choice
June sales were $5,000 while projected sales for July and August were $6,500 and $7,000, respectively. Sales are 35% cash and 65% credit. All credit sales are collected in the month following the sale. What are the expected collections for July?
A) $7,975
B) $5,525
C) $6,825
D) $5,975
Correct Answer:
Verified
Correct Answer:
Verified
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