Matterhorn, Inc. had the following sales for the past six months. Matterhorn collects its credit sales
30 in the month of sale, 60 one month after the sale, and 10 two months after the sale.
Cash Sales Credit Sales
January 50,000 50,000
February 70,000 110,000
March 55,000 95,000
April 78,000 130,000
May 80,000 105,000
June 75,000 148,000
What are Matterhorn's total cash receipts for the month of March?
A) 150,000 B) 119,000 C) 154,500 D) 99,500
Question 2
The first interest payment on a 5-year, 8, 100,000, fully-amortized loan with annual payments will be less than the last interest payment.
Indicate whether the statement is true or false.
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