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How much will be collected in april and may

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Reference no: EM132771539

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.

Problem 1: How much will be collected in April? May? June? For the three months ending June 30?

Sales

January $100,000

February $150,000

March $200,000

April $ 175,000

May $ 125,000

June $ 150,000

Total $ 900,000

Reference no: EM132771539

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