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Question - A company has projected the following sales for the year.
50% is paid in cash.
50% is paid with credit.
Credit sales are collected 50% in the month of sale, 30% in the 1st month following the sale, and 20% in the 2nd month following the sale.
Sales
January $100,000
February $150,000
March $200,000
April $175,000
May $125,000
June $150,000
Total $900,000
Required - How much will be collected in April? May? June? For the three months ending June 30?
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