Question
Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after
Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale.
Given the following sales, how much cash will be collected in January and February?
| Nov. | Dec. | Jan. | Feb. |
| $23,000 | $34,000 | $20,000 | $23,000 |
| Jan. | Feb. | |
| Cash collected | $fill in the blank 1 | $fill in the blank 2 |
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Accounting, Chapters 1-13
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th Edition
1285069625, 9781285069623
