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BobCat Inc expects credit sales for July to be $40,000. Cash sales are expected to be $10,000. The company expects credit and cash sales to

BobCat Inc expects credit sales for July to be $40,000. Cash sales are expected to be $10,000. The company expects credit and cash sales to increase 15% for the month of August. Credit sales are collected in the month following the month in which sales are made. Based on this information, sales in August would be: A. $55,000 B. $57,500 C. $40,000 D. $60,000

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