Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Given the following sales, how much cash will be collected in January and February? Nov. Dec. Jan. Feb. $27,000 $35,000 $18,000 $26,000 Jan. Feb. Cash collected $4

Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Given the following sales, how much cash will be collected in January and February? Nov. Dec. Jan. Feb. $27,000 $35,000 $18,000 $26,000 Jan. Feb. Cash collected $4

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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If sales for January are $10,000 and sales for February are $20,000 and all sales are credit sales and the pattern of collection is 100% is collected the month following the sale, how much is collected in March? A. 10,000 B. 20,000 C. 30,000
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Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Given the following sales, how much cash will be collected in January and February? Nov. Dec. Jan. Feb. $25,000 $36,000 $19,000 $25,000 Jan. Feb. Cash collected %24 %24
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