Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August. Danner collects 50% of a month's sales in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. Cash collections in August would be Group of answer choices $82,000 $78,000. $35,000. $86,000. $62,000. $76,000 $80,000
Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August. Danner collects 50% of a month's sales in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. Cash collections in August would be Group of answer choices $82,000 $78,000. $35,000. $86,000. $62,000. $76,000 $80,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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13.
Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August. Danner collects 50% of a month's sales in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. Cash collections in August would be
Group of answer choices
$82,000
$78,000.
$35,000.
$86,000.
$62,000.
$76,000
$80,000
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