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Assume a merchandising company provides the following information from its master budget for the month of May: Sales Cost of goods sold Selling and administrative
Assume a merchandising company provides the following information from its master budget for the month of May: Sales Cost of goods sold Selling and administrative expenses Accounts receivable, May 13t Accounts receivable, May 315 $ 123,000 $ 88,000 $ 22,000 $ 17,000 $ 32,000 If all of the company's sales are on account, what is the amount of cash collections from customers included in the cash budget for May? Multiple Choice 5121000 O $123,000 Multiple Choice O $121,000 (0) $123,000 O $108,000 O $106,000
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