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german
3 years ago
6

Noterman Company has credit sales of $600,000 in January. Past experience suggests that 40% is collected in the month of sale, 5

0% in the month following the sale, and 10% in the second month following the sale. Compute the cash collections from January sales in January, February, and March.
Business
1 answer:
Rasek [7]3 years ago
7 0

Answer:

Cash collected in January = $240000

Cash collected in February = $30000

Cash collected in march = $10000

Explanation:

We have given that Noteman company has credit sales of January = $60000

It is given that 40% is collected in the month of sale

So cash collected in January =\frac{600000\times 40}{100}=$240000

Cash collected in February =\frac{600000\times 50}{100}=$30000

Cash collected in march = =\frac{600000\times 10}{100}=$10000

 

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