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Suppose that a company has the following accounts receivable collection pattern: Paid in the month of sale 25% Paid in the month following sale 75%
Suppose that a company has the following accounts receivable collection pattern: Paid in the month of sale 25% Paid in the month following sale 75% All sales are on credit. If credit sales for January and February are $ 250,000 and $120,000 respectively, the cash collection for February is: $210,000 $130,000 100,000
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