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Please help and show steps to solve this. thank you Zhang Industries sells a product for $700. Unit sales for May were 400 and each
Please help and show steps to solve this. thank you
Zhang Industries sells a product for $700. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June. a. $280,000. b. $282,520. c. $285,880. d. $196,000 Step by Step Solution
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