Question
London Manufacturing Company expects the following sales in January, February, and March: Cash Sales Credit Sales January $60,000 $270,000 February $50,000 $240,000 March $75,000 $355,000
London Manufacturing Company expects the following sales in January, February, and March: Cash Sales Credit Sales January $60,000 $270,000 February $50,000 $240,000 March $75,000 $355,000 The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 30% in the first month after sale, 5% in the second month after sale, and 5% is expected to be uncollectible. How much cash will be collected from customers in March? $376,500 $410,000 $291,500 $373,500 Click if you would like to Show Work for this question: Open Show Work
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