$106,000--December sales = $110,000 (November sales of $100,000 X 1.1) Cash Collections for December:
November sales $100,000 X 0.4 = $40,000 December sales = $110,000 X 0.6 = $66,000
Total Collections = $40,000 + $66,000= $106,000
<h3>How do sales work?</h3>
Sales are activities involved in selling or the quantity of products that are sold within a specified time frame. It is also seen as a sale when a service is provided for a fee. As a result of an acquisition, appropriation, requisition, or direct contact with the customer at the point of sale, the seller or provider of the goods or services completes a transaction. The transfer of title (property or ownership) of the object occurs, and the price is settled once a price has been agreed upon for which the transfer of ownership will take place. The sale is often executed by the seller rather than the buyer, and it is sometimes done before the buyer needs to make a payment.
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