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What is the expected cash collections from credit sales

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Reference no: EM133053705

Question - Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $40,000 and $67,000, respectively. The company expects to collect 45% of its credit sales in the month of the sale and the remaining 55% in the following month. What is the expected cash collections from credit sales during the first month?

Reference no: EM133053705

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