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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1. How much cash would be collected in June from sales?
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