Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered t the current year: Month Total sales Total cash receipts in Month 4 will be: Multiple Choice O $27.230. O $47.900 1 2 3 4 $ 60,000 $ 70,000 $50,000 $30,000 636230

Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered t the current year: Month Total sales Total cash receipts in Month 4 will be: Multiple Choice O $27.230. O $47.900 1 2 3 4 $ 60,000 $ 70,000 $50,000 $30,000 636230

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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