Question
11. A company's accounts receivable balance at the end of December is $68,730, of which 20.40% is uncollected from December sales. The company's credit sales
11. A company's accounts receivable balance at the end of December is $68,730, of which 20.40% is uncollected from December sales. The company's credit sales policy is as follows: 56.30% collected in the month of sale, 35.00% collected in the month immediately after the sale, with the remaining balance collected in the second month after the sale. How much were the total sales in November?
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese
6th Edition
978-1506396811, 150639681X
