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Junior Snacks reports the following information from its sales budget:
Expected Sales:
October$142,000
November 150,000
December 186,000
Question 1: All sales are on credit and are expected to be collected 35% in the month of sale and 65% in the month following sale. The total amount of cash expected to be received from customers in November is:
Multiple Choice
Option 1: $144,800.
Option 2: $92,300.
Option 3: $150,000.
Option 4: $242,300.
Option 5: $52,500.
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