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Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of
Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 20% in the month following sale, and 14% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month 1 2 3 4 Total sales $69,000 $75,000 $59,000 $39,000 Total cash receipts in Month 4 will be:
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
