ClassQuestI Corporation, a company located in Tacoma, WA, had the following sales. SEP OCT NOV...
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ClassQuestI Corporation, a company located in Tacoma, WA, had the following sales. SEP OCT NOV DEC JAN FEB Total Sales $120,000 $100,000 $90,000 $150,000 $120,000 $80,000 10% of all sales are cash sales. The rest are credit sales. Credit sales are collected as follows: 20% in the month of sale, 70% in the month following sale, and 10% in the second month following sale. Required: Calculate the Cash Collections during the month of January?
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$138,000 $120,000 $150,000 $136,200
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