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lozanna [386]
3 years ago
14

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

Business
1 answer:
Oxana [17]3 years ago
3 0

Answer:

$168,250

Explanation:

Total Cash Collection would include cash collected from both Cash Sales and Credit Sales.

<u>Summary for Calculation of January Cash Collected</u>

Cash Sales                                                        $60,000

Credit Sales :

For January Sales ($160,000 × 45%)              $72,000

For December Sales ($55,000 × 55%)           $30,250

For November Sales ($30,000 × 20%)             $6,000

Total Collection                                               $168,250

Conclusion :

The total cash collected during January by LaGrange Corporation would be $168,250

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<h3>Net income</h3>

Using this formula

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