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Page Company makes 30% of its sales for cash and 70% on account. 60% of...

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Accounting

Page Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year:

Month 1 2 3 4
Total sales $60,000 $70,000 $50,000 $30,000

Total cash receipts in Month 4 will be:

$38,000.

$47,900.

$27,230.

$36,230.

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