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. Sales for November through February are shown. November December January February $25,000 $35,000 $20,000 $25,000 a. based on these sales, how much cash will be collected in January? b. based on these sales, how much cash will be collected in February?

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. Sales for November through February are shown. November December January February $25,000 $35,000 $20,000 $25,000 a. based on these sales, how much cash will be collected in January? b. based on these sales, how much cash will be collected in February?

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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