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Avery Manufacturing has the following sales budgets for the fourth quarter.Cash SalesCredit ...

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Avery Manufacturing has the following sales budgets for the fourth quarter.Cash SalesCredit ...

Avery Manufacturing has the following sales budgets for the fourth quarter.

Cash Sales

Credit Sales

October	$580,400	$232,900
November	624,800	344,000
December	806,900	398,700

The accounting manager has analyzed cash collections and determined that credit sales are collected 70% in the month of sale, 20% in the month following the sale, and 10% in the second month following sale. How much cash is Avery expected to collect in December?

▸ $1,178,080

▸ $898,990

▸ $1,205,600

▸ $1,154,790

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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