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What is the answer for this? Please let me know. Question 6 (1 point) Saved Budgeted sales in Allen Company over the next four months
What is the answer for this? Please let me know.
Question 6 (1 point) Saved Budgeted sales in Allen Company over the next four months are given below: Month September October November DecemberBudgeted Sales$100,000$160,000$180,000$120,000 Twenty-five percent of the company's sales are for cash, and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder is uncollectible. Given these data, what should be cash collections for December? $103,500 $120,000 $138,000. $153,000Step by Step Solution
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