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OU UN 70 FINISH QUE Leaverton's forecast of sales is as follows: July, $60,000; August, $90,000; September, $130,000 Sales are normally 80 percent cash and
OU UN 70 FINISH QUE Leaverton's forecast of sales is as follows: July, $60,000; August, $90,000; September, $130,000 Sales are normally 80 percent cash and 20 percent credit in any month. Credit sales are collected in full in the following month Merchandise cost averages 60 percent of sales price. The company desires an inventory as of September 30 of $52,000. The inventory as of June 30 was $25,000 Total cash receipts for August will be: a. $72,000 b. 566,000. c. $98,000 d. 584,000
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