TOM HAS THE FOLLOWING TOTAL SALES DATA: JAN $150,000 FEB $160,000 MARCH $154,000...
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Accounting
TOM HAS THE FOLLOWING TOTAL SALES DATA:
JAN $150,000
FEB $160,000
MARCH $154,000
CREDIT SALES REPRESENT 75 PERCENT OF TOTAL SALES. CREDIT SALES ARE COLLECTED 15 PERCENT IN THE MONTH OF SALE, 65 PERCENT IN THE FIRST MONTH AFTER SALE AND 18 PERCENT IN THE SECOND MONTH AFTER SALE. WHAT ARE TOTAL CASH COLLECTIONS DURING MARCH FROM SALES?
MARCH CASH COLLECTIONS
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