UNIT 8 $6,860 ($9,800 X .70) COST OF NEXT 7 UNITS = (8 X $6,860...

75. Correct answer a. Wallstead’s April cash collections total $343,000 as shown below.

March discounted collections = ($370,000 x .5) x .98 = $181,300

March undiscounted collections = $370,000 x .3 = 111,000

February collections = $340,000 x .15 = 51,000

Total collections $343,000