Question
Use the following information to answer questions 1-3: January February March April Cash Sales $40,000 $35,000 $25,000 $30,000 Credit Sales $120,000 $110,000 $90,000 $100,000 20%
Use the following information to answer questions 1-3:
January February March April
Cash Sales $40,000 $35,000 $25,000 $30,000 Credit Sales $120,000 $110,000 $90,000 $100,000
20% of the credit sales are collected in the month of sale, 70% in the month after sale, and 10% in the second month after sale. What are the cash collections for March?
Multiple Choice
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$132,000
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$18,000
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$120,000
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$107,000
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Accounting For Non-Accounting Students
Authors: John R. Dyson, Ellie Franklin
9th Edition
978-1292128979, 1292128976
