登录之后可查看解析

This is the amount of projected total sales in the second quarter, not the projected cash collections in the second quarter from the total projected sales made in the second quarter.
This is not the correct answer. Please see the correct answer for a complete explanation. We have been unable to determine how to calculate this incorrect answer choice. If you have calculated it, please let us know how you did it so we can create a full explanation of why this answer choice is incorrect. Please send us an email at support@hockinternational.com. Include the full Question ID number and the actual incorrect answer choice -- not its letter, because that can change with every study session created. The Question ID number appears in the upper right corner of the ExamSuccess screen. Thank you in advance for helping us to make your HOCK study materials better.
April, May and June are the months of the second quarter. The projected cash collections during the second calendar quarter from sales made on open account during the second calendar quarter are: 70% of these three months' estimated credit sales, collected during the month of the sale; 15% of credit sales made during April and May, collected during May and June; 10% of credit sales made during April, collected during June. Mathematically, this looks like this: [.70 × ($120,000 + $100,000 +$90,000)] + [.15 × ($120,000 + $100,000)] + [.10 × $120,000]. Doing the math, we get $217,000 + $33,000 + $12,000 = $262,000. This problem can also be solved by calculating each month's cash collection and then adding the results together.
This is the total projected sales during the second quarter multiplied by 99%. That is the total amount that will ultimately be collected from sales made during the second quarter; however, it is not the amount that will be collected during the second quarter from sales made during the second quarter.