INTERMEDIATE ACCT.-WILEYPLUS ACCESS
17th Edition
ISBN: 9781119595366
Author: Kieso
Publisher: WILEY
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Willow Inc. has $310,000 in accounts receivable on February 1. Budgeted sales for February are $1,050,000. Willow Inc. expects to sell 25% of its merchandise for cash. Of the remaining 75% of sales on account, 80% are expected to be collected in the month of sale and the remainder the following month. The February cash collections from sales are:
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