Assume a company is preparing a budget for its first two months of operations. During...
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Accounting
Assume a company is preparing a budget for its first two months of operations. During the fitst month it expects credit sales of $50,000. The company expects to collect 40% of its credit sales in the month of the sale and 60% in the following month. The company's cash budget for the second month shows total cash collections from credit sales of $54,000. What amount of credit sales is the company expecting for its second month of operations? Mutiple Cholce $55.000 $45,000 $60,000 $40,000
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