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A companys history indicates that 20% of its sales are for cash and the rest are on credit. Coliections on credit sales are 20% in
A companys history indicates that 20% of its sales are for cash and the rest are on credit. Coliections on credit sales are 20% in the month of the sale. 50% in the month after the sale, 25% in the second month atter the sale, and 5% is uncollectible. Projected sales for December, January, and February are $60,000,$85,000 and $95,000, respectively. The February expected cash receipts from current and prior credif sales is: Multiple Choice 565,400 551,200 180350 $00.250
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