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
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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 for the current
year:
Month
Total sales
Total cash receipts in Month 4 will be:
Multiple Choice
$27,230.
$47,900.
1
2
3
$ 60,000 $ 70,000 $50,000 $30,000
£36 230
Transcribed Image Text: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 for the current year: Month Total sales Total cash receipts in Month 4 will be: Multiple Choice $27,230. $47,900. 1 2 3 $ 60,000 $ 70,000 $50,000 $30,000 £36 230
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