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A company reports the following information from its sales account and sales budget: Sales: May $52.000 $47.000 June Expected Sales: July $45.000 August September $55.000
A company reports the following information from its sales account and sales budget: Sales: May $52.000 $47.000 June Expected Sales: July $45.000 August September $55.000 $60,000 Cash sales are normally 30% of total sales and credit sales are 70% of total sales. Credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is: $58,500 $55,000 $56,500 $60,000 $80,500
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