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London Manufacturing Company expects the following sales in January, February, and March:Cash ...

London Manufacturing Company expects the following sales in January, February, and March:

	Cash Sales	Credit Sales
January	$60,000	$270,000
February	$50,000	$240,000
March	$75,000	$355,000

The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 30% in the first month after sale, 5% in the second month after sale, and 5% is expected to be uncollectible. How much cash will be collected from customers in March?

▸ $373,500

▸ $410,000

▸ $376,500

▸ $291,500

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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