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 credit 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 Page's first year of operations: Month 3 4 $60,000 $70,000 $50,000 $30,000 Total sales Total cash receipts in Month 3 will be: Multiple Choice $52,200. $53,290. $50,000. $51,510
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