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ans fast i need ans urgently Joe's Products Ltd is trying to plan for its cash flows. On Jan 1, 2016 it has $500 in
ans fast i need ans urgently
Joe's Products Ltd is trying to plan for its cash flows. On Jan 1, 2016 it has $500 in the bank. On average, 25% of sales are collected at the time of sale and 70% are collected the following month. Bad debt amounts to 5% of sales. Bad debts are not collected, On average, 60% of purchases each month are paid at the time of purchase and 40% are paid the following month. Monthly Sales and Purchases are provided below. How much cash will be on hand at the end each of January, February and March respectively? How much cash will be on hand at the end each of January, February and March respectively? $725,$400,$1175 $425,$800,$675 $725,$1275,$1175 (D) $425,$400,$675 None of these answers are correct Step by Step Solution
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