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Alderman Corporation has found that 80 ?% of its sales in any given month are credit? sales, while the remainder are cash sales. Of the
Alderman
Corporation has found that
80
?%
of its sales in any given month are credit? sales, while the remainder are cash sales. Of the credit? sales,
Alderman
Corporation has experienced the following collection? pattern:
| 25% received in the month of the sale |
50% received in the month after the sale | |
15% received two months after the sale | |
| 10% of the credit sales are never received |
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