Accounting MCQ
Accounting Chapter 8
Mitchell Company had the following budgeted sales for the last half of last year:Assume that the accounts receivable balance on July 1 was $75,000. Of this amount, $60,000 represented uncollected June sales and $15,000 represented uncollected May sales. Given these data, the total cashcollected during July would be:
Mitchell Company had the following budgeted sales for the last half of last year:Assume that the accounts receivable balance on July 1 was $75,000. Of this amount, $60,000 represented uncollected June sales and $15,000 represented uncollected May sales. Given these data, the total cashcollected during July would be:
Mitchell Company had the following budgeted sales for the last half of last year:Assume that the accounts receivable balance on July 1 was $75,000. Of this amount, $60,000 represented uncollected June sales and $15,000 represented uncollected May sales. Given these data, the total cashcollected during July would be:
A. $150,000
B. $235,000
C. $215,000
D. $200,000
Answer: D
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