Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information...
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Accounting
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash Sales $100,000 $120,000 $80,000 Credit Sales $100,000 $150,000 $90,000 Total $200,000 $270,000 $170,000 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collec
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