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papahomer papahomer
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7 years ago
Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2018; sales were $3,450,000 in fiscal 2017. Assume the following figures for the fiscal year ending 2017: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast cash for the fiscal year ending 2018.
A) $120,725
B) $75,003
C) $216,418
D) $319,604
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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David_hessDavid_hess
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