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Determine the total cash receipts

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Question - Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for Page's first year of operations:

Month

1

2

3

4

Total sales

$60,000

$70,000

$50,000

$30,000

Required - Determine the total cash receipts in Month 3?

Reference no: EM132846106

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