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Budgeting Cash Collections Lowell Consulting which sells on terms 2/10, n/30, had credit sales for March and April of $195,000 and $162,500, respectively. Analysis
Budgeting Cash Collections Lowell Consulting which sells on terms 2/10, n/30, had credit sales for March and April of $195,000 and $162,500, respectively. Analysis of Lowell's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): in month of following sale Uncollectible accounts returns, and allowances Receiving Discount Beyond Discount Period Totals 20% 60% 13 20% 35% 5% TOON Determine the estimated cash collected on customers' accounts in April.
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