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Julia's Candy Co. reports the following information from its sales account and sales budget: SALES: May.......... $105,000 June......... 93,000 Expected Sales: July....... $90,000 August...... 110,000
Julia's Candy Co. reports the following information from its sales account and sales budget: SALES: May.......... $105,000 June......... 93,000 Expected Sales: July....... $90,000 August...... 110,000 September... 120,000 Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is: A. $30,000. B. $82,500. C. $112,500. D. $120,000. E. $202,500
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