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We generate sales of $ 1 0 0 , 0 0 0 for the year. Of this amount, $ 8 0 , 0 0 0
We generate sales of $ for the year. Of this amount, $ are cash sales and $ are credit sales. Based on past experience, we expect that of the credit sales wont be collected. How much income should the firm recognize for the year? Ignore anything else that is not referenced in the problem, such as cost of goods sold, interest expense, etc.
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