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All of Gaylord Corporation's sales are on account. Fourty percent of the sales on account are collected in the month of sale, fifty percent in
All of Gaylord Corporation's sales are on account. Fourty percent of the sales on account are collected in the month of sale, fifty percent in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company:
January | February | March | April | |
Total sales | $50,000 | $60,000 | $40,000 | $30,000 |
What is the amount of cash that should be collected in March?
A) $51000
B) $24000
C) $37000
D) $41000
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