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June sales were $27,000, while projected sales for July and August were $51,000 and $69,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July.
A) $30,600
B) $41,400
C) $10,800
D) $36,600
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Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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