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10% in the month of sale 70% in the month following sale 20% in the second month following sale or the upcoming year, sales are budgeted to be as follows: July $90,000 August $100,000 September $80,000 |Calculation Collected in Sept uly Sales Collected ugust Sales Collected aptember Sales Collected ptal ow much willcash collectionsbefor September? $0

10% in the month of sale 70% in the month following sale 20% in the second month following sale or the upcoming year, sales are budgeted to be as follows: July $90,000 August $100,000 September $80,000 |Calculation Collected in Sept uly Sales Collected ugust Sales Collected aptember Sales Collected ptal ow much willcash collectionsbefor September? $0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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follows: 10% in the month of sale 70% in the month following sale 20% in the second month following sale For the upcoming year, sales are budgeted to be as follows: July $90,000 August $100,000 September $80,000 Calculation Collected in Sept July Sales Collected August Sales Collected September Sales Collected Total How much willcash collectionsbefor September? $0 $16,000 $96,000 $95,000
Transcribed Image Text:follows: 10% in the month of sale 70% in the month following sale 20% in the second month following sale For the upcoming year, sales are budgeted to be as follows: July $90,000 August $100,000 September $80,000 Calculation Collected in Sept July Sales Collected August Sales Collected September Sales Collected Total How much willcash collectionsbefor September? $0 $16,000 $96,000 $95,000
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