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Sheridan Industries expects credit sales for January, February, and March to be $210,000, $270,900, and $305,900, respectively. It is Expected that 70% of the sales
Sheridan Industries expects credit sales for January, February, and March to be $210,000, $270,900, and $305,900, respectively. It is Expected that 70% of the sales will be collected in the month of sale, and 30% will be collected in the following month. Calculate cash collections from customers for each month. SHERIDAN INDUSTRIES Schedule of Expected Collections Collections by Month Jan Feb Mar Total Activate Doo Sul
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