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Home Q & A Board Other Fields Homework Help Business Accounting
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mkjmabrey mkjmabrey
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A year ago
Johnson Equipment expects the following sales in January, February, and March:

​Cash SalesCredit Sales
January$50,000$250,000
February$45,000$240,000
March$85,000$325,000

The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 35% in the first month after sale, and 5% in the second month after sale. How much cash will be collected from customers in March?

▸ $410,000

▸ $376,500

▸ $291,500

▸ None of these answer choices are correct.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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stanka82stanka82
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A year ago
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mkjmabrey Author
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A year ago
Good timing, thanks!
aricketts6@
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Yesterday
this is exactly what I needed
sudenzia
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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