A company's history indicates that 30% of its sales are for cash and the rest...
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Accounting
A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 45% in the next month, and 15% the following month. Projected sales for January, February, and March are $77,000, $102,000 and $112,000, respectively. The March expected cash receipts from current and prior credit sales is:
a. $52,535
b. $74,935
c. $63,735
d. $91,050
e. $96,300
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