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Hernandez Company expects January credit sales to be $100,000. Cash sales are expected to be $60,000. The company expects cash and credit sales to increase
Hernandez Company expects January credit sales to be $100,000. Cash sales are expected to be $60,000. The company expects cash and credit sales to increase 10% for the month of February. Credit sales are collected in the month following the month in which the sales are made. Based on this information, the amount of cash receipts in February would be ?
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
8th edition
978-1259569197
