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Budgeted sales in Allen Company over the fourth quarter of next year are given below: Budgeted Sales September $100,000 October $140,000 November $180,000 December $120,000
Budgeted sales in Allen Company over the fourth quarter of next year are given below: Budgeted Sales September $100,000 October $140,000 November $180,000 December $120,000 On average, 50% of a month's sales are collected in the month of the sale, 30% in the first month following the sale, and the remainder are collected in the second month following the sale. Assuming there are no bad debts, the expected cash collection in November is: $180,000 $138,000 $158,000 $152,000
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