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B: Accounts receivable collected in month following sales 100% C: Cost of goods sold as percentage of sales 60%; Ending inventory- percent of next months
B: Accounts receivable collected in month following sales 100%
C: Cost of goods sold as percentage of sales 60%; Ending inventory- percent of next months cost of goods sold 10%; Dec est end inventory $12,000
D: Accounts payable paid in month of purchase 70%; accounts payable in month following purchase 30%
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