0,000. The co 20% of its me sales, 75% are le and the rema

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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3. Mala-Prohibita Company has a balance of P299,000 in its
account receivable on January 1, 2019. Budgeted sales for
January are P860,000. The company's sales manager
projected to sell 20% of its merchandise for cash while that
of the remaining sales, 75% are expected to be collected in
the month of sale and the remainder on the following
month. A bank loan is also expected to be credited to the
company's account in the month of January amounting
P150,000. Determine the January cash collections from sales?
Transcribed Image Text:3. Mala-Prohibita Company has a balance of P299,000 in its account receivable on January 1, 2019. Budgeted sales for January are P860,000. The company's sales manager projected to sell 20% of its merchandise for cash while that of the remaining sales, 75% are expected to be collected in the month of sale and the remainder on the following month. A bank loan is also expected to be credited to the company's account in the month of January amounting P150,000. Determine the January cash collections from sales?
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