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Flanders industries collects 35% of its sales on account in the month of the sale and 65% in the month followingthe sale.sales on account are budgeted to be $175k for may and $225k june.what are the budgeted cash receipt for credit sales in june.?

Flanders industries collects 35% of its sales on account in the month of the sale and 65% in the month followingthe sale.sales on account are budgeted to be $175k for may and $225k june.what are the budgeted cash receipt for credit sales in june.?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Flanders industries collects 35% of its sales on account in the month of the sale and 65% in the month followingthe sale.sales on account are budgeted to be $175k for may and $225k june.what are the budgeted cash receipt for credit sales in june.?
Transcribed Image Text:Flanders industries collects 35% of its sales on account in the month of the sale and 65% in the month followingthe sale.sales on account are budgeted to be $175k for may and $225k june.what are the budgeted cash receipt for credit sales in june.?
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