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Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash
Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash and 80% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? More info 20% in the month of the sale 40% in the month after the sale 30% two months after the sale 10% are never collected Data table Sales revenue November December January February March $ 16,200 $ 10,200 $ 15,400 $ 13,200 $ 14,600 - Cash sales Collection of credit sales: Cash Collections Budget For the Months of January through March January February March Quarter 20% Month of sale 40% Month after 30% Two months after Total cash collections
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