Woodpecker Co. has $308,000 in accounts receivable on January 1. Budgeted sales for January are...
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Accounting
Woodpecker Co. has $308,000 in accounts receivable on January 1. Budgeted sales for January are $930,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are a.$631,200 b.$1,052,000 c.$841,600 d.$1,360,000
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