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For a month sales, 17% pay in cash. Of the credit sales, 33% pay...

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Accounting

For a month sales, 17% pay in cash. Of the credit sales, 33% pay in the month of the sale and 34% are collected in the month following the sale. 5% goes uncollected and the balanced is collected two-months after the sale.
July Sales =89,000
August sales =82,000
September Sales =78,000
How much cash should be collected in September?
Correct Answer
78,448

Answer & Explanation Solved by verified expert
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