Question
Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale,
Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year:
Month total sales
1=$60,000
2=$70,000
3=$50,000
4=$30,000
Total cash receipts in Month 3 will be?
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Accounting
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
9th edition
1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227
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