25 Ratchet Manufacturing anticipates total sales for August, September, and October of $370,000, $295,000, and...
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Accounting
25 Ratchet Manufacturing anticipates total sales for August, September, and October of $370,000, $295,000, and $305,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of cash received for September. Multiple Choice $221,250. $277,500. $498,750. $351,250. $166,250
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