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Trapp Co. projected are as follow: The company expects to sell 40% of merchandise for cash. Of the sales on account, 10% are expected to
Trapp Co. projected are as follow: The company expects to sell 40% of merchandise for cash. Of the sales on account, 10% are expected to be collected in the month of the sale, 80% the month following the sale and 8% in the following month. The remainder 2% is uncollectible. Prepare a schedule indicating cash receipts for August, September, and October
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