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XLM Inc. sold 10,000 units during its second month of operations at an average selling price of $9 per unit. Its Accounts Receivable balance at
XLM Inc. sold 10,000 units during its second month of operations at an average selling price of $9 per unit. Its Accounts Receivable balance at the start of the second month was $50,000. XLM collects all sales as follows: 60% during the month of the sale and 40% in the month following the sale. What were XLM's collections during its second month of operations? Multiple Choice $50,000 $82,000 $98,000 $104,000
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