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All credit sales are collected in the month following the

June sales were $6,000 while projected sales for July and August were $8,500 and $7,000, respectively. All credit sales are collected in the month following the sale. Sales are 75% credit and 25% cash. What are the total expected collections for July?

A. $7,375

B. $6,625

C. $8,375

D. $7,875

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Accounting Basics: All credit sales are collected in the month following the

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