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What is amount of cash expected to be collected in october

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Question - The Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of cash expected to be collected in October?

$246,800.

$124,000.

$111,600.

$178,600.

$179,800.

Reference no: EM132091483

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