Sales in December were $960,000. Projected sales for the first quarter of next year are: January $1,080,000 February $1,300,000 March $1,280,000 Sales are 20% cash and 80% on credit. Debtors pay in the month following the sale. Calculate the total cash sales for the three months, January, February and March. Select one: O a. $732,000 O b. $256,000 O c. $960,000 O d. $2,848,000 O e. none of these

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sales in December were $960,000. Projected sales for the first quarter of next
year are:
January $1,080,000
February $1,300,000
March $1,280,000
Sales are 20% cash and 80% on credit. Debtors pay in the month following the
sale.
Calculate the total cash sales for the three months, January, February and March.
Select one:
O a. $732,000
O b. $256,000
O c. $960,000
O d. $2,848,000
O e. none of these
Transcribed Image Text:Sales in December were $960,000. Projected sales for the first quarter of next year are: January $1,080,000 February $1,300,000 March $1,280,000 Sales are 20% cash and 80% on credit. Debtors pay in the month following the sale. Calculate the total cash sales for the three months, January, February and March. Select one: O a. $732,000 O b. $256,000 O c. $960,000 O d. $2,848,000 O e. none of these
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