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2.a firm has sales in may, june, and july of $100, $200, and $300 repectively. The firm make 20 percent of sales for cash and

2.a firm has sales in may, june, and july of $100, $200, and $300 repectively. The firm make 20 percent of sales for cash and collects the balance one month following the sale, the firms total cash receipts in july a. are $200 b. $220 c. $180 d. cannot be determined with the information provided.

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