Toscano Provided Information on Sales as Follows -Refer to Figure 9-6

$\begin{array}{lr}\text {Percent paid in the month of sale }&25\%\\\text {Percent paid in the month after the sale }&64\%\\\text { Percent paid in the second month after the sale}&5\%\\\end{array}$
Toscano provided information on sales as follows:
$\begin{array}{ll}\text { May } & \$ 140,000 \\\text { June } & \$ 115,000 \\\text { July } & \$ 126,000 \\\text { August (expected) } & \$ 132,000\end{array}$
-Refer to Figure 9-6. How much of June credit sales are expected to be collected in the month of July?

A) $30,000
B) $60,000
C) $36,000
D) $73,600
E) $80,000

Correct Answer:

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