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Justin Company's budget includes the following credit sales for the current year: September, $44,000; October, $55,000; November, $49,000; December, $51,000. Experience has shown that payment
Justin Company's budget includes the following credit sales for the current year: September, $44,000; October, $55,000; November, $49,000; December, $51,000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 55% in the first month after sale, 22% in the second month after sale, and 3% is uncollectible. How much cash can Justin Company expect to collect in November as a result of current and past credit sales?
A $49,730.
B $49,000.
C $38,330.
D $47,130.
E $52,530.
ignore: Q36
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