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Cash recipts question please explain steps and meathods used 3. A company's history indicates that 20% of its sales are for cash and the rest

Cash recipts question
please explain steps and meathods used image text in transcribed
3. A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the month after the sale, 25% in the second month after the sale, and 5% is uncollectible. Projected sales for December, January, and February are $60,000,$85,000, and $95,000, respectively. The February expected cash receipts from current credit and prior credit sales is: a. $57,000 b. 61,200 c. $66,400 d. $80,750

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