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Charlie corp sells it products on both credit and cash

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Charlie Corp sells it products on both credit and cash basis. Monthly sales are sold 20% for cash, 80% for credit. Credit sales are collected 40% in the month of sale and 60% the following month. Sales for the first quarter are as follows:

  • January $100,000
  • February $150,000
  • March $125,000

Compute cash collections for February.

Reference no: EM13595197

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