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Consider the following time periods for the first year of credit Sales: Time Period 1 2 3 4 Credit Sales $120,000 $130,000 $150,000 $100,000
Consider the following time periods for the first year of credit Sales: Time Period 1 2 3 4 Credit Sales $120,000 $130,000 $150,000 $100,000 The collection schedule is: 70% in the time period of the sales, 25% the following time period, and 5% the third time period after the time period of the sales. What is the amount scheduled to be collected in Period 2? $91,000 $ 84,000 $121,000 $170,000 $ 96,000
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