22) The following are the forecasted sales for a small firm: January $120,000 $250,000 $210,000 February March Cash collections are expected as follows: 20% are received in the month of sale,60% in the month following the sale and the balance in the next month. All sales are subject to 5% cash discount in the month of sale. What are the total expected cash collections for the month of March? a)$ 216,900 b) $200,000 c)$213,900 d) $116,000
22) The following are the forecasted sales for a small firm: January $120,000 $250,000 $210,000 February March Cash collections are expected as follows: 20% are received in the month of sale,60% in the month following the sale and the balance in the next month. All sales are subject to 5% cash discount in the month of sale. What are the total expected cash collections for the month of March? a)$ 216,900 b) $200,000 c)$213,900 d) $116,000
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2MC
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Question
What is the answer for number 22?
![Styles
3
4
22) The following are the forecasted sales for a small firm:
$120,000
$250,000
January
February
March
$210,000
Cash collections are expected as follows: 20% are received in the month of sale,60% in the
month following the sale and the balance in the next month. All sales are subject to 5% cash
discount in the month of sale.
What are the total expected cash collections for the month of March?
a)$ 216,900
b) $200,000
c)$213,900
d) $116,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3a4fcb1b-00b9-4fbb-93bd-fbd4ad70c9fc%2F55c50b54-217d-40e2-b024-e4d985a3d720%2F62arifq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Styles
3
4
22) The following are the forecasted sales for a small firm:
$120,000
$250,000
January
February
March
$210,000
Cash collections are expected as follows: 20% are received in the month of sale,60% in the
month following the sale and the balance in the next month. All sales are subject to 5% cash
discount in the month of sale.
What are the total expected cash collections for the month of March?
a)$ 216,900
b) $200,000
c)$213,900
d) $116,000
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