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Gamma Corporation is estimating the following sales on account for the first four months of next year: Month Credit Sales January $280,000 February | $300,000
Gamma Corporation is estimating the following sales on account for the first four months of next year: Month Credit Sales January $280,000 February | $300,000 March $330,000 April $370,000 Sales are normally collected 80% in the month of sale and 20% in the month following the sale. All sales are on account. Based on this information, how much cash should Gamma Corporation expect to collect during the month of April? $370,000 $324,000 $362,000 $296,000
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