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Question
Chadmark Corporation's budgeted monthly sales are $3,000. The company sells on credit with terms of 2/10 net 45. Forty (40) percent of Chadmark's customers pay on Day 10 and take the 2 percent discount; the remaining 60 percent pay in the month following the sale (on Day 45), so they pay the full invoice price. What is Chadmark's total cash receipts for a typical month?
a. $1,543
b. $2,976
c. $3,200
d. $1,652
e. $2,408
Answer
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Related questions
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