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7 years ago
Zale, Inc. has provided the following extracts from their budget for the first quarter of the forthcoming year:

   Jan    Feb   March
Sales (20% cash)   $500,000   $750,000   $1,000,000

The company collects 70% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February.
A) $750,000
B) $570,000
C) $690,000
D) $540,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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7 years ago
Will mark this subject solved, thanks
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