Multiple Choice
June sales were $6,000 while projected sales for July and August were $8,500 and $7,000, respectively. All credit sales are collected in the month following the sale. Sales are 75% credit and 25% cash. What are the expected collections for July?
A) $8,375
B) $7,875
C) $7,375
D) $6,625
Correct Answer:
Verified
Correct Answer:
Verified
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