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What are the cash collections for January and February

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Reference no: EM133066123

Question - ABC Company has budgeted the following sales.

 

January

February

Sales (on Income statement)

$100,000

$200,000

Sales are 80% credit and 20% cash

Credit sales are collected 50% in the month of sale and 50% in the month following the sale A/R at Dec 31 = $85,000.

Required - What are the cash collections for January and February?

Reference no: EM133066123

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