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Home Q & A Board Other Fields Homework Help Business Accounting
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momoluv25 momoluv25
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A year ago
Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming year. February sales are budgeted at $175,000. All sales are made on credit. The cash receipts budget for March shows total cash receipts equal to $148,390. Shell grants a 2% discount to customers who pay within 10 days of the invoice. Shell collects 60% of sales within the discount period, 20% in the month of sale but outside the discount period, 15% in the month following sale and the remainder is uncollectible. What are the budgeted sales for March (if necessary, round your answer to the nearest dollar)?

▸ $193,958

▸ $221,625

▸ $314,795

▸ $155,000
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Managerial Accounting

Managerial Accounting


Edition: 4th
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dasneakdasneak
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A year ago
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momoluv25 Author
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A year ago
Thanks
loki1345
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This helped my grade so much Perfect
gmiannotti
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This site is awesome
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