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How much total cash can east company expect to collect

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Reference no: EM132662384

East Company budgeted the following credit sales during the current year:

August $90,000

September, $100,000;

October, $110,000;

November, $90,000;

December,$100,000.

Experience has shown that cash from credit sales is received as follows:

  • 30% in the month of sale, (All collections in the month of sale are subject to 1 percent cash discount.)
  • 50% in the first month after sale,
  • 17% in the second month after sale, and
  • 3% is uncollectible.

Required:

Problem 1: How much total cash can East Company expect to collect in November?

Reference no: EM132662384

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