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Question - Eiffel Company is preparing its cash budget for November. Eiffel expects 50% of credit sales to be paid in the month of sale. 30% in the month following the sale, and the remainder paid two months after the month of sale. Eiffel expects the cash and credit sales to be:
Cash
Credit
November
P17,000
P100,000
October
?
P90,000
September
P15,000
P80,000
August
P18,000
P95,000
Assuming no bad debts and a projected total cash inflow of P107,000 in October, what is Eiffel's expected October cash sale?
a. P20,000
b. P19,000
c. P16,000
d. P14,000
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