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Author Question: Matterhorn, Inc. had the following sales for the past six months. Matterhorn collects its credit ... (Read 48 times)

meagbuch

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  • Posts: 568
on: Jul 10, 2018
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.


olderstudent

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Reply #1 on: Jul 10, 2018
Answer to Question 1

C

Answer to Question 2

Answer: FALSE
Explanation: The first interest payment will be the largest.


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