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PROBLEMV The management of XYZ Company estimates that credit sales for August, September, October, andNovemberwillbe$270,000,$375,000,$420,000,and$240,000,respectively.Experiencehas shown that collections are made as follows: Inmonthofsale 25% Infirstmonthaftersale
PROBLEMV
The management of XYZ Company estimates that credit sales for August, September, October, andNovemberwillbe$270,000,$375,000,$420,000,and$240,000,respectively.Experiencehas shown that collections are made as follows:
Inmonthofsale | 25% |
Infirstmonthaftersale | 60% |
Insecondmonthaftersale | 10% |
Requirement:(3pts.)
DeterminethecollectionsfromcustomersinOctoberandNovember.Showallcomputations.
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