Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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All sales of Paige Company are on account. Budgeted sales for the first quarter of 200B are:
January P96,000
February 168,800
March 158,400

Based on the company’s collection experience, 60% of the sales is collected in the month after the sale, 36% is collected in the second month following the sale, and the balance is uncollectible.

The budgeted cash receipts for March is
a.P118,368
b.P158,304
c.P155,808
d.P135,840

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