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Lowell Consulting, which sells on terms 2/10, n/30, had credit sales for March and April of $180,000 and $150,000, respectively. Analysis of Lowell's operations
Lowell Consulting, which sells on terms 2/10, n/30, had credit sales for March and April of $180,000 and $150,000, respectively. Analysis of Lowell's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): In month of sale In month of following sale Uncollectible accounts, returns, and allowances Receiving Discount Beyond Discount Period Totals 20% 20% 60% 35% 5% 100% 40% 15% Determine the estimated cash collected on customers' accounts in April.
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