A firm has projected sales in May, June, and July of $100, $200, and $400,...
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Accounting
A firm has projected sales in May, June, and July of $100, $200, and $400, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm's total cash receipts in July is ________.
A
$220
B
$240
C
$260
D
$280
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