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A company's collection of Accounts Receivable is as follows: 30% in the month of the...

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Accounting

A company's collection of Accounts Receivable is as follows:

30% in the month of the sale

40% in the month following the sale

20% in the second month following the sale

10% in the third month following the sale

If credit sales are $14,000 in January, how much of this balance is collected in March?

$4,200

$5,600

$2,800

$1,400

Answer & Explanation Solved by verified expert
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