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bernie2981 bernie2981
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9 years ago
Feeney Furniture prepared the following sales budget:

Month   Cash Sales   Credit Sales
March   $20,000   $10,000
April   $36,000   $16,000
May    $42,000   $40,000
June   $54,000   $48,000

Credit collections are 15% two months following the sale, 50% in the month following the sale, and 30% in the month of sale. The remaining 5% is expected to be uncollectible.

What are the total cash collections in June at Feeney Furniture?
A) $90,800
B) $86,000
C) $96,600
D) $36,800
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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bernie2981 Author
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#2
9 years ago
You're such a dedicated member, I very much appreciate the help.

Marking this solved ✓
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