Use the following information to solve the Questions 1, 2, and 3
Use the following information to solve the Questions 1, 2, and 3 below:,
The treasurer of Simmons Corporation, a newly formed software company, is trying to ascertain Simmons's cash flows for the next three months. Expected sales are:,
50% of sales are made for cash. Simmons expects to receive 25% in the month following the sale and 20% in the second month following the sale. The remaining 5% are expected to be un-collectible. Gross margin is 20%, and purchases are made one month prior to sale. Purchases are paid one month after received.,
1. The cash inflows in March from sales will be:,
D) None of the above
This question was answered on: Dec 18, 2020
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