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Big City Toy Company has the following expected sales in dollars from...

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Question

Accounting

Big City Toy Company has the following expected sales in dollars from its Sales Budget for the year ended December 31,20X1:
Q1- $107,000 Q2- $118,600 Q3- $73,700 Q4- $319,500
Expected sales are 25% cash, 75% credit. For credit sales, 40% are collected in the quarter of the sale, 55% are collected in the following quarter, and 5% are never collected. The total amount of cash expected to be collected in Q4 is:
Question 5Answer
a.
$206,126
b.
$135,150
c.
$98,890
d.
$79,875

Answer & Explanation Solved by verified expert
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