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Title: Fielding Wilderness Outfitters had projected its sales for the first six months of 2010 to be as follows: Post by: borteleto on Jul 6, 2018 Fielding Wilderness Outfitters had projected its sales for the first six months of 2010 to be as follows:
Jan.$250,000April$300,000 Feb.$340,000May$350,000 Mar.$280,000June$380,000 Cost of goods sold is 60% of sales. Purchases are made and paid for two months prior to the sale. 40% of sales are collected in the month of the sale, 40% are collected in the month following the sale, and the remaining 20% in the second month following the sale. Total other cash expenses are $40,000/month. The company's cash balance as of March 1st, 2010 is projected to be $40,000, and the company wants to maintain a minimum cash balance of $15,000. Excess cash will be used to retire short-term borrowing (if any exists). Fielding has no short-term borrowing as of March 1st, 2010. Assume that the interest rate on short-term borrowing is 1% per month. What is Fielding's projected total receipts (collections) for April? A) $124,000 B) $180,000 C) -$4,000 D) $36,000 Title: Fielding Wilderness Outfitters had projected its sales for the first six months of 2010 to be as follows: Post by: DeanaRay on Jul 6, 2018 Content hidden
Title: Fielding Wilderness Outfitters had projected its sales for the first six months of 2010 to be as follows: Post by: borteleto on Jul 6, 2018 Thank you for helping me with my quiz
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