NSW Company collects payment on 50 percent of credit sales in the month of sale, 40 percent

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NSW Company collects payment on 50 percent of credit sales in the month of sale, 40 percent in the month following the sale, and 5 percent in the second month following the sale. Its sales budget follows.

Compute NSW€™s total cash collections in July and its total cash collections inAugust.

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Question Posted: Mar 26, 2014 09:48 AM

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NSW Company collects payment on 50 percent of credit sales in the month of sale, 40 percent

Question:

Month Cash Sales Credit Sales May June July August $24,000 30,000 50,000 70,000 $40,000 60,000 80,000 100,000

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July August Cash sales 50000 70...View the full answer

Principles of Accounting

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