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H Company has the following expected pattern of collections on credit sales: 70 percent collected in the month of sale, 15 percent in the month
H Company has the following expected pattern of collections on credit sales: 70 percent collected in the month of sale, 15 percent in the month after the month of sale, and 14 percent in the second month after the month of sale. The remaining 1 percent is never collected. April credit sales were $140,000. May credit sales were $160,000. Expected credit sales for June are $150,000. How much cash will H Company expect to collect in June?
Group of answer choices
A) $148,600
B) $129,000
C) $148,400
D) $152,520
E) $127,400
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