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Tommy's Tomatoes sells tomato cages on account for $15 each. Tommy collects 60% of sales revenue in the month in which the sale was made,
Tommy's Tomatoes sells tomato cages on account for $15 each. Tommy collects 60% of sales revenue in the month in which the sale was made, and 40% in the following month. In June, July, and August, Tommy's Tomatoes expects to sell 18,000, 15,000, and 6,000 cages, respectively. Accounts Receivable as of May 31 totaled $130,000. What are expected cash collections for June? O A. $292,000 O B. $162,000 OC. $238,000 OD. $270,000
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