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Please show me the work using the table thank you! Use the following information to answer the next two questions: Heal Co will open a
Please show me the work using the table thank you!
Use the following information to answer the next two questions: Heal Co will open a new store on January 1. Based on experience from its other retail outlets, The Company is making the following sales projections: Heal Co estimates that 70% of the credit sales will be collected in the month following the month of sale (e.g., for January Sales, 70% of the credit sales would be collected in February), with the balance collected in the second month following the month of sale (e.g., for January Sales, the rest would be collected in March). If it helps, you may use this blank table to organize your work. This table will not be graded. Make sure to mark vour choices on the scantron. 5. Based on these data, the balance in accounts receivable on January 31 will be: A. $40,000 B. $50,000 C. $22,000 D. $58,000 E. $120,000 6. In a cash budget for the month of April, the total cash receipts will be: A. $57,000 B. $74,000 C. $133,000 D. $114,000 E. $97,000Step by Step Solution
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