TB MC Qu. 20-142 (Algo) Memphis Company anticipates total... Memphis Company anticipates total sales for...
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TB MC Qu. 20-142 (Algo) Memphis Company anticipates total... Memphis Company anticipates total sales for April, May, and June of $920,000,$1,020,000, and $1,070,000 respectively. Cash sales are normally 30% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales during the month of June. Multiple Choice $1,009,800. $632,800. $600,600. $688,800. $938,800
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