Towson University
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5. Assume the Task Company charges 1 1/2% on any balance that is not collected 
in the month following the month of sale. This charge will also change the 
collection percentages to 15% cash sales, 80% of the balance collected in the 
month following the sale, 16% the second month, 3% the third month. This 
stricter credit policy will reduce the estimated sales budgets by 7% each month. 
What is the amount of cash to be collected in July? 
A. $39,199 
B. $35,312 
C. $38,193 
D. $36,242 
$42,000 ...
notes from Criminal justice class
notes from Criminal justice class
notes from Criminal justice class
notes from Criminal justice class
my notes from my forensics class
my notes from my forensic class
my notes from my forensic class
my notes from my forensic class
my notes from my forensic class