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miv72 [106K]
3 years ago
5

Limerick, Inc. has budgeted total sales for January, February, and March of $800,000, $900,000, and $950,000 respectively. Cash

sales are normally 25% of total sales. Of the credit sales, 40% are collected in the same month as the sale, and 60% are collected during the first month after the sale. Compute the amount of cash received from sales during the month of February.
Business
1 answer:
Naya [18.7K]3 years ago
7 0

Answer:

$905,000

Explanation:

February Collection will be as follows :

<em>February Collection = Cash Sales + Credit Sales </em>

                                  =  $900,000 x 25 % + $900,000 x 40 % + $800,000 x 60 %

                                  = $905,000

the amount of cash received from sales during the month of February is $905,000.

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