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olga55 [171]
2 years ago
12

The LaGrange Corporation had the following budgeted sales for the first half of the current year:

Business
1 answer:
Liono4ka [1.6K]2 years ago
8 0

Answer:

The total cash collected during January by LaGrange Corporation would be: $192,000

Explanation:

Total Credit Sales in December of the current year = $63,000/45% = $140,000

The total cash collected during January = Cash sales of January + 55% x Credit sales of January + 40% x Credit sales of December + uncollected November sales

The LaGrange Corporation has Cash sales of January of $40,000 and Credit sales of January of $140,000, uncollected November sales of $19,000

The total cash collected during January = $40,000 + 55% x $140,000 + 40% x $140,000 + $19,000 = $192,000

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Answer:

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