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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 sale,
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, 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: 2 Month Total sales Total cash receipts in Month 4 will be: Multiple Choice $39,400. $50,600 1 $62,000 $28,840 2 $75,000 3 4 $52,000 $32,000 
Page Company makes 30% of its sales for cash and 70% of account. 60% of the credit 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 Total cash recelpts in Month 4 will be: Multiple chrolice $32400 $50,600 $28840
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, 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: 2 Month Total sales Total cash receipts in Month 4 will be: Multiple Choice $39,400. $50,600 1 $62,000 $28,840 2 $75,000 3 4 $52,000 $32,000
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Performance Auditing A Measurement Approach
Authors: Ronell B. Raaum CGAP CGFM, Stephen L. Morgan CIA CGAP CFE CGFM
2nd Edition
0894136607, 9780894136603
