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stranahan stranahan
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7 years ago
BarnBurner Music, a music publishing firm located in Tennessee, bills its clients on the first of the month. For example, any sale made in the month of July is billed August 1 and is due September 1. Clients traditionally pay as follows: 50% at the end of the first month, 40% at the end of the second month, 8% at the end of the third month, and 2% default on their bills. What is the total dollar value of first-quarter actual billings that will NOT be collected?

First-Quarter Actual Billings   Second-Quarter Anticipated Billings
January   February   March   April   May   June
$88,000   $74,000   $96,000   $99,000   $82,000   $63,000

A) $1,760
B) $3,460
C) $12,900
D) $5,160
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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eggslilyeggslily
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7 years ago
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stranahan Author
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#2
7 years ago
Thank you for  the help. I had a few questions on a few of them and this really confirmed my answers.
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