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Johnson Equipment expects the following sales in January, February, and March: Cash Sales Credit Sales January $50,000 $250,000 February $45,000 $240,000 March $85,000 $325,000 The
Johnson Equipment expects the following sales in January, February, and March: Cash Sales Credit Sales January $50,000 $250,000 February $45,000 $240,000 March $85,000 $325,000 The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 35% in the first month after sale, and 5% in the second month after sale. How much cash will be collected from customers in March?
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