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All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are ...

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All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are ...

All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company:

	January			February		March		April
Total sales	$50,000			$60,000		$40,000		$30,000

What is the amount of cash that should be collected in March?

▸ $24,000

▸ $37,000

▸ $41,000

▸ $51,000

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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linyuki Author

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This helped my grade so much Perfect

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Smart ... Thanks!

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Good timing, thanks!

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