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You are the Canadian production firm's Chief Financial Officer ( CFO ) . The Canadian production firm sells products on credit. The credit sales and

You are the Canadian production firm's Chief Financial Officer (CFO). The Canadian production firm sells products on credit. The credit sales and other information are as follows:
Month October November December
Sales 905,000849,000,999,000
The Canadian production firm collects 30% cash in the month of sales, 30% in the month after the sale, 35% in the second month after the sale, and 5% of the credit sales revenue are bad debts (never collected). Based on the given information, the cash collections for December should be:
A. $873,260
B. $877,350
C. $875,590
D. $872,700
E) None of the given answers is correct.
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