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The Lowell Company, a small manufacturer of cordless telephones, began operations on January 1. Its credit sales for the first 3 months of operations were
The Lowell Company, a small manufacturer of cordless telephones, began operations on January 1. Its credit sales for the first 3 months of operations were as follows: January $50,000 February 100,000 March 120,000 Throughout this entire period, the firm's credit customers maintained a constant payments pattern: 40% paid in the month of sale, 30% paid in the first month following the sale, and 30% paid in the second month following the sale. What are each month's contributions to Account Receivables at end of quarter in the Uncollected Balance Schedule? (Jan, Feb, and Mar, respectively) 0; $30,000; $72,000 $72,000; $30,000; O $50,000; $70,000; $48,000 $20,000; $40,000; $48,000 O O 0; $40,000; $36,000
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