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If a firm had credit sales of $1,250,000 for March and collected its sales 30% in the month of sale and 70% in the month
If a firm had credit sales of $1,250,000 for March and collected its sales 30% in the month of sale and 70% in the month following the sale, how much of March sales would be collected in cash in March?
a) $1,250,000.
b) $375,000.
c) $875,000.
d) $500,000.
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