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A business has the following credit sales data: • May: $9,500 • June: $12,500 ⚫ July: $18,000 Credit sales are settled as follows: • 65% in the month of sale ⚫ 35% in the following month • What is the estimated cash received from credit sales for July?

A business has the following credit sales data: • May: $9,500 • June: $12,500 ⚫ July: $18,000 Credit sales are settled as follows: • 65% in the month of sale ⚫ 35% in the following month • What is the estimated cash received from credit sales for July?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...
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A business has the following credit sales data: • May: $9,500 • June: $12,500 ⚫ July: $18,000 Credit sales are settled as follows: • 65% in the month of sale ⚫ 35% in the following month • What is the estimated cash received from credit sales for July?
Transcribed Image Text:A business has the following credit sales data: • May: $9,500 • June: $12,500 ⚫ July: $18,000 Credit sales are settled as follows: • 65% in the month of sale ⚫ 35% in the following month • What is the estimated cash received from credit sales for July?
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